Super

AustralianSuper will have $80 billion managed by external managers over the next few years as it eyes larger allocations to key emerging markets like India and China. AustralianSuper currently has $50 billion managed by external managers, a figure that will swell to some $80 billion over the next few years as the fund races towards…

While profit-to-member funds have been given the go-ahead to build reserves from new fees on members, Equity Trustees believes that fund shareholders should pony up instead. The issue of so-called “$12 trustees” has leapt to prominence in recent months as super funds flocked to courts to get the green light to build capital reserves through…

The $60 billion industry fund has appointed Calvert and Parametric to implement sustainable screens across its real assets portfolio. Rest has awarded an enhanced ESG mandate to Parametric and Calvert to provider further diversification to its Sustainable Growth ethical investment option. The mandate will see Rest implement ethical and sustainable screens and tilts across its…

The Morrison Government has so-called “$12 trustees” in its crosshairs after they amended trust deeds to levy members for potential penalties. But APRA believes funds might collapse without them. The Morrison Government’s amendment to Section 56 of the SIS Act was intended to prevent super funds from paying penalties using member money, but – as…

A prospective Labor government would strike out Treasurer Josh Frydenberg’s proxy advice reforms – if Parliament doesn’t do it first. The proxy advice reforms will in be Labor’s crosshairs as Parliament resumes, with shadow minister for financial affairs Stephen Jones calling them “one of the worst policies I have seen in my 10 years in…

Opposition to Treasurer Josh Frydenberg’s proxy advice reforms is growing, with one key Liberal senator questioning his use of the regulations power and warning of a possible disallowance. While not disagreeing with the reforms in principle, senator Concetta Fierravanti-Wells – head of the standing committee for scrutiny of delegated legislation – questioned why Frydenberg had…

Labor wants to “super-charge” the Australian economy by putting our largest pool of capital to work both at home and away. But on Your Future, Your Super, they won’t be throwing the baby out with the bath water. The Your Future Your Super (YFYS) reforms represent one of the most daring political plays by the…

Frontier Advisors has nabbed a contract with Western Australia’s Government Employee’s Superannuation Board (GESB). Frontier Advisors has won a $12.2 million multi-year contract with GESB, replacing incumbent consultant JANA Investment Advisers. Frontier will provide “tailored investment advice to help the Government Employees Superannuation Fund meet its investment objectives; insights on financial market opportunities and risks;…

As the retirement product race heats up in superannuation, funds and advisers need to confront a simple fact: people will live a lot longer than they think. Average life expectancy remains the main metric for determining the planning horizons for retirees. But research from the Actuaries Institute of Australia found that the tools used by…

Despite their surging popularity, risks lurk within illiquid assets that put member outcomes and portfolio quality at risk – and there’s little regulation for handling them. Illiquid assets – anything from infrastructure and commercial property to venture capital and private equity – are experiencing a surge in popularity as institutional investors face down a future…

ASIC’s investigation into potential “insider trading” at a number of superannuation funds appears to be approaching its end – but the issue seems far from settled. Accusations of “insider trading” at some of Australia’s largest super funds were first made by Liberal MP Tim Wilson, who accused unnamed executives and employees of switching from investment…

APRA’s decision not to include private credit in the Your Future Your Super fixed interest benchmark creates an opportunity for super funds to outperform without compromising tracking error, according to a new report by Atchison Consultants. APRA’s chosen benchmark for fixed interest – the Bloomberg AusBond Composite 0+ index – only captures the government and…