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Treasurer Josh Frydenberg’s proxy reforms have been blown out of the water. The question that remains is why they were ever proposed in the first place. The decision to disallow Frydenberg’s proxy advice regulations marks the end of a deeply weird saga where Treasury tried to annihilate an entire industry – that barely anybody had…

An ugly situation in markets could be just the thing Hamish Douglass needs to reverse the fortunes of Magellan. But there’s no telling what will happen when it arrives. Hamish Douglass is hoping for rain – or really, the whole storm. He can’t guarantee that Magellan’s flagship global equities fund will do better in one,…

Treasurer Josh Frydenberg has sidestepped the Senate to push through controversial reforms to proxy advice, casting the future of the Australian Council of Superannuation Investors (ACSI) into doubt. The reforms were pushed through using regulations powers in late December, at a time of year when much of the financial press is winding down and after…

Perhaps it’s too early to be talking about legacy. But Alexis George’s decision to take the reins at AMP rested squarely on just that. Most other executives of Alexis George’s calibre might be happy to rest on their laurels after a career as distinguished as hers. But speaking at the Women in Super (WIS) Sydney…

The emergence of omicron has seen plenty of blood in the streets, and the quiet vindication of one of Australia’s most divisive investors. But doomsday has been postponed again. Like him or hate him, Hamish Douglass was (probably) right. Lambasted for the subpar performance of Magellan’s flagship global equity strategy during an incredible bull run…

Margaret Cole, APRA’s new executive for superannuation, has brought the super war to its most unlikely, and probably reluctant, combatants: members. Faced with the disappointing reality that few have moved out of their underperforming fund in the aftermath of the performance test, Cole has resorted to browbeating them into it. “It has been just over…

The accusations of insider trading hurled at Australia’s big super funds are explosive in nature – and pose something of a headscratcher. Regardless of their weight, reputations are at stake. The revelations made by ASIC on Wednesday last week (October 27) are a tough wake-up call for an industry that prides itself on its duty…

Two case studies this week provide an interesting opportunity to re-examine investor behaviour. As it turns out, a monkey can beat the market. Have you heard the one about the crypto-trading hamster? Mr Goxx is the only employee/inhabitant of Goxx Capital, a specially outfitted cage which allows him to trade cryptocurrencies based on his movements…

The new inquiry into common ownership wants to find evidence of collusion between super funds. But it appears to be the quintessential storm in a teacup. The standing committee on economics’ inquiry into the implications of common ownership and capital concentration in Australia has supposed a problem and now faces the difficult task of finding…

Ian Silk, soon to retire from AustralianSuper, was an infrequent speaker on the conference circuit, but his speeches were memorable. Two were very memorable and, as you might expect, prescient. AustralianSuper announced last week (July 13) that Silk, the first chief executive of AustralianSuper, would retire later this year. He is being replaced by Paul…