Industry View

AIST viewpoint: misconceptions of super trustees

It has become fashionable – particularly with the current discussion stemming from the Financial Systems Inquiry – to compare super funds to banks. This is particularly so when the talk turns to governance. Speaking at the recent ASFA conference in Melbourne, the former Federal Treasurer Peter Costello commented that super funds should be subject to […]

In praise of trustees

The trustee system means the public does not have to be investment experts. Gerard Noonan believes it is time for politicians and policy makers to accept these merits. I’ve been involved in superannuation since industry funds were established for working people in the 1980s. Over those years, many high-minded national inquiries – from the Cooper […]

Profile: Bob Henricks, chair of Energy Super

Pragmatic, smart on costs and aware of his time coming to an end, Bob Henricks, the long serving chair of Energy Super talks to Investment Magazine. Australian superannuation funds have a reputation as some of the world’s toughest fee negotiators which must make Bob Henricks one of steeliest negotiators anywhere. He objects to the imposition […]

Balancing social good and maximising returns

Garry Weaven makes the case that not enough has been done in pushing the boundaries on the conflict between maximising returns for members and acheiving a social good If neo-classical economics in its purest version were to be taken seriously, there would be no need to debate the issue of whether socially motivated investment was […]
Investment Strategy

How new privacy laws impact trustees

The most significant suite of changes to privacy law in over twenty years take effect on 12 March 2014. In order to comply trustees must have a privacy complaints process and a new type of privacy policy. Most importantly they must control how the personal information they collect is stored, accessed and used, or risk […]

The independents debate

Will super funds be better off with more independent trustees? The government thinks so. David Rowley asked the industry their thoughts. Sub-optimal superannuation funds pose a threat to national finances. This is a key starting point for those that urge change to fund boards. The belief runs that with national debt spiralling, the government cannot […]

‘Please help trustees on data’, fund managers asked by APRA

Trustees are being swamped with information from fund managers, says the Australian Prudential Regulatory Authority (APRA), which has called for more streamlined reporting to help. Greg Brunner, general manager APRA, told delegates at the 17th annual Investment Administration Conference in Sydney that fund managers should be helping trustees cope with the increased compliance they were […]

Insurance choices – a tough call for trustees

Come July 1, 2014 trustees are faced with an unpalatable choice caused by Australian Prudential Regulation Authority rules on what insurance they can offer. Either they give all members insurance in line with the regulations or they retain the existing offer for those who joined before that date and give the revised deal to new […]