Major moves in custody and investment internalisation were ISN’s biggest stories of 2023, but hard-headed analysis of retirement risk and credit quality pulled plenty of eyeballs too.
As 2023 draws to an end, it’s worth looking back at those stories that didn’t make it into the top 10 but in which some of the great industry shifts were chronicled.
The $300 billion super fund has taken its mandate with Churchill Asset Management to the next level in a sign that the voracious appetite for private debt from pension funds around the world remains unsated.
Local institutions need to be prepared for rising cyber threats while keeping both eyes on the reputational damage that can stem from a successful breach, according to the Australian Custodial Services Association.
The Australian Council of Superannuation Investors (ACSI) has put listed companies on notice over executive pay and cyber-security in a bid to “raise the bar on governance”.
Super funds and other large institutions will be able to provide financial advice to their members following the introduction of a package of reforms that have been hailed as “transformative” for the industry.
More updates to Your Future, Your Super (YFYS) will no doubt be welcomed by the industry, but a thorough review must get to the bottom of the potential system risks created by benchmarking and big funds that keep bulking up.
A big global custodian is unlikely to swoop in and help former NAB Asset Servicing clients as they search for a new provider, but that doesn’t mean they can’t get a better outcome by taking a good look at their business.
Your Future, Your Super will likely be adjusted to allow funds to more easily invest in renewable energy and affordable housing. Whether they really want to is another matter entirely.
The Future Fund made changes affecting more than $60 billion of assets last year as it repositioned for its much vaunted new investment order, but other large investors are taking a different tack.
