Super

A dearth of member data is “hindering progress” against the retirement income covenant and more than $145 billion of member money might be better off in guaranteed lifetime income products, according to new research.

The prudential regulator will undertake another review of how superannuation funds treat their unlisted assets, with a special focus on “valuation and liquidity management practices” as they come to account for larger and larger chunks of the portfolio.

The $160 billion industry fund has found a new head for its $90 billion public equities portfolio in an alumnus of passive investing giants like Vanguard and BlackRock. It’s also pulled the trigger on promotions in the public equities team.

The $13 billion Mine Super might have had Chant West’s top performing growth option for the calendar year, but CIO Seamus Collins questions whether many default growth products are doing enough for young members who are “temporally diversified”.

Wealth management firm Alteris has selected JANA as its new investment consultant, bringing its assets under advice in the wealth space to more than $10 billion as it looks beyond its traditional client base for growth.

The CIO of the $10 billion Australian Ethical wants to triple its funds under management by 2030. Getting on that growth trajectory could mean offshore partnerships or acquisitions to augment its in-house investment capabilities.

Incoming populist leaders unleashing “incoherent” policies could shake markets, according to Colonial First State CIO Jonathan Armitage, while investors with dry powder on hand stand to win big as distressed selling takes hold in private equity and infrastructure.

A rally in risk in the waning months of 2023 has pushed super fund returns into strongly positive territory, but some funds don’t want to count their chickens before they hatch.

There were 3000 super funds in 1981. But when Russell Mason retires after 42 years of trust deeds and time sheets, the world he worked in as a trusted adviser and governance expert will have only about 70 funds left.

With less than two weeks left to go, super funds will likely turn in another robust calendar year return off the back of a stratospheric risk rally.

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.

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”.