Systemic risk in the superannuation system likely doesn’t stem from funds themselves, but from their service provider relationships. Regulators need to be thinking harder about where and how it arises – something they’re not necessarily well set up to do.
Big asset owners and managers are embracing the private markets as one avenue for growth, but the complexity that brings to portfolios means they also need to get a better view of what might be decades of siloed information.
Turner takes a package as Harwood readies to close
Mike Turner, the manager of communications at the Harwood super fund, has taken a redundancy package ahead of the proposed outsourcing of the fund to a master trust or industry fund (see separate report this edition). Turner, a former securities servicing and super administration executive, said last week that he was taking a holiday before considering his options.
Turner left Harwood, the CSR Ltd and associated company fund, last week after four years. He had previously spent three years at Australian Administration Services but is probably best known in the industry for his five years at Pillar Administration before that.
As general manager of marketing at Pillar, Turner drove the NSW Government-owned body’s expansion into the wider marketplace, winning its first non-government clients and implementing a contemporary marketing plan.
Turner said he wanted to take some time to decide on the next phase of his career. He began in financial services as a broker and later moved into securities servicing at what was then National Australia Custodian Services (now NAB Asset Servicing), heading up the Sydney presence.
