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Why industry funds must keep ‘the hunger to succeed’: Delaney

Some within the sector believe the super wars are over and that industry funds have emerged victorious. But they shouldn’t take their primacy, or the change in government, for granted. Arriving at work one morning in October 1987, now AustralianSuper chief investment officer Mark Delaney was greeted by a gloomy telex message that said the…

Lachlan Maddock | 15th Jun 2022 | More
Pension funds more tolerant of underperformance

In the past, institutional investors have been accused of being too trigger happy when it comes to manager underperformance. But a new study has found they actually find it hard to let go. A team of researchers surveyed 218 global institutional investors representing US$4.1 trillion in assets under management through data gathered by the Institutional…

Lachlan Maddock | 8th Jun 2022 | More
Turn and face the change: a better future for super?

The last nine years of government have been characterised by a deep-seated suspicion of the country’s largest investors. But with Labor back in power, the super wars are almost certainly over. Labor’s election victory over the weekend arrives at a curious inflection point for Australia’s profit-to-member super funds. The last time Labor held government, in…

Lachlan Maddock | 25th May 2022 | More
  • Global pensions sketchy on net zero

    A survey of 50 global pension funds shows that many are losing hope of achieving their net-zero goals, and the sector is still “in the foothills” of the transition. The report, carried out by CREATE-Research and backed by DWS Group, was based on a telephone survey of 50 large pension plans based in North America,…

    Lachlan Maddock | 13th May 2022 | More
    Big super faces into a ‘piecemeal WWIII’

    Australia’s superannuation funds are now parking member money further and further away from their old backyard. But a more divisive world presents them with challenges they’ve not faced before. It’s perhaps unsurprising that the opening of ASFA’s 2022 conference was dominated by conversations usually reserved for the war room. The rapid divestment from Russia –…

    Lachlan Maddock | 27th Apr 2022 | More
    ‘It’s not an automatic win’: Why size won’t come easily to super

    Australia’s super funds are racing to achieve massive size in the understanding that it will create untold benefits for members. But “a little but of circumspection and caution” is required. “People seem to be taking it as a fact that you just need to be bigger, and that it’s obvious you need to be bigger…

    Lachlan Maddock | 6th Apr 2022 | More
  • Big super gets its Russia marching orders, but selling isn’t simple

    Plenty of big super funds have announced their intention to dump their Russian assets, and the government wants them to. But saying do svidanya is harder than they thought. From a certain angle, there’s a lot of Russia in the super system. Once ruled by unapologetic socialists, they’ve both become capitalistic in the aftermath of…

    Lachlan Maddock | 4th Mar 2022 | More
    AustralianSuper builds penalty war chest

    AustralianSuper will build its financial penalty war chest from its administration reserve instead of new member fees, but has left the door open to future admin fee hikes. AustralianSuper has changed its Trust Deed to include a right for its trustee to be paid a limited “Trustee Risk Reserve Fee” (TRRF) in light of the…

    Staff Writer | 25th Feb 2022 | More
  • More work to be done for members after YFYS

    In the aftermath of Your Future Your Super (YFYS), members of dud funds still aren’t moving their super. And it’s not clear what the government and regulators can do about it. It sometimes seems that so much time was spent on implementing the contentious YFYS reforms that the question of what would happen to members…

    Lachlan Maddock | 23rd Feb 2022 | More
    ASIC ups ante on super ‘insider trading’

    ASIC’s investigation into claims of insider trading at super funds keeps getting bigger as the regulator tries to ensure that “trustees are not abusing their positions.” ASIC’s investigation into so-called insider trading at super funds had previously examined the switching behaviour of 67 trustees and executives, excluding all but four of them from its investigation…

    Lachlan Maddock | 16th Feb 2022 | More
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