transparency

Absolute Returns Conference Digital 2020

Consultants dial up transparency and culture assessment of alternatives

“Everyone loves to hear about culture now,” according to Willis Towers Watson's Sara Rejal, who noted during a panel discussion at the Absolute Returns Conference Digital 2020 conference on Wednesday that funds are interested in a broader due diligence particularly with its hedge fund and alternative strategy partners.

Matthew SmithSeptember 23, 2020

Industry View

Technology helps trustee transparency but also regulator scrutiny

Jeffrey Leckstein, head of Australia at Bloomberg, explains how technology is improving transparency for investors but also how regulators are using it for accountability. As global growth converges towards a slower speed, more funds in Australia are utilising derivatives to achieve investment objectives and manage exposures, leaving trustees and boards increasingly concerned about the associated risks. Many […]

Jeffrey LecksteinMay 22, 2015

Policy and Regulation

ASIC: super “fee inconsistencies” not good enough

The Australian Securities and Investment Commission is urging superannuation funds to draft their own set of fee transparency guidelines ahead of its own updated guidance issued today. The regulator is targeting non-disclosure relating to investment in underlying investment vehicles, incorrectly disclosing fees net of tax and inconsistent disclosure of performance fees. Such inconsistencies have left […]

Kate HageJuly 8, 2014

Investment Strategy

Braga: industry has climbed mountain

The superannuation industry climbed a mountain in meeting new reporting requirements in 2013 and can do the same again in 2014. David Braga, chair of the Australian Custodial Services Association, attributes the success to close co-operation between funds providers and APRA. “The initial (reporting requirements) draft that APRA issued at the end of 2012 was […]

David RowleyJanuary 27, 2014

Investment Strategy

Cbus board transparency wins AIST award

Cbus has been commended for its bold move to disclose board salaries in the Australian Institute of Superannuation Trustees’ 2013 awards for excellence. The fund won the award for best annual report, the judges describing the information provided to members as reporting and acting with integrity. The report highlights the $111,000 salary given to board […]

David RowleyNovember 28, 2013

Unintentional

From politics to post-retirement

Former Victorian premier and federal member of parliament, John Brumby likes women. Since his appointment as independent chair of the MTAA Super Trustee Board in April 2011, he has overseen the appointment of the fund’s first female chief executive and independent directors. Former AvSuper chief executive Leeanne Turner replaced the fund’s longstanding leader, Michael Delaney, […]

Leng YeowOctober 28, 2013

Industry View

Disclose and flourish: AIST

As part of an overhaul of Australia’s $1.5-trillion retirement savings sector, super funds are heading into a new era of disclosure and transparency. Draft regulations released last month reveal the depth and extent of information that the industry regulators want Australian super funds to disclose to their members and the wider public. As one corporate […]

Tom GarciaJuly 1, 2013

Administration

New regime of APRA reporting

The Australian Prudential Regulation Authority (APRA) has provided its much-awaited clarification on the reporting requirements for regulated superannuation entities (RSE). While it reduces some of the burden of earlier drafts, the reporting requirements are still very significant and present some serious challenges to funds, their administrators and custodians. However, in many respects, some of the […]

Bruce RussellJune 17, 2013

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