Comment

Everybody and their dog has an idea for putting the Future Fund to work beyond its core mandate.
But the best idea for getting it to invest more in Australia’s economy is probably already being done.

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.

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.

It’s temping to dismiss the super for housing debate out of hand. But if funds and trustees refuse to engage with that debate it will inevitably be settled without them, with a deleterious impact on retirement savings.

Clicks on the Firstlinks newsletter went through the roof on Thursday morning, driven by a spontaneous reaction to distressful hard news.

If or when there’s another royal commission into financial services, the profit-to-member and industry funds will not be able to say they weren’t warned about their problems. They were warned twice on Tuesday alone.

Bad memories of a 1970s style inflation breakout are animating monetary policy in the post-Covid world, writes Rob Prugue. And the irrational prejudice of inflation hawks means more viable tools are being discarded.

The start of any high profile corporate failure can often be traced back to a lack of fiduciary oversight, writes Rob Prugue. Shareholders have a responsibility to both appoint and monitor those who represent their interests.

Betashares has become the second ETF provider to launch a superannuation product, but as with other new entrants into the highly concentrated market it will be a challenge for it to find its feet.

Investors are sailing in uncharted waters, writes Michael Block, and the only way to navigate them is through a well-diversified portfolio. But is it possible to have too much of a good thing?

If greed is good in the world of private equity, it’s anathema to super funds and other pension plans with members that will never make as much money as the people who manage their retirement savings.

Breaking superannuation into three different funding models may not be the right answer, former Lazard executive Rob Prugue writes, but at least it cuts through the fallacy at the heart of our superannuation ideal.