AustralianSuper

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…

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…

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…

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…

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 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…

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…

The problems with Your Future Your Super (YFYS) run deep – among them, how super funds will manage ESG within the confines of low tracking error strategies. But it’s not the end of the road. Under the YFYS reforms, implementation manager Parametric believes tracking error will face downwards pressure as funds try to stay on…

By 2041, Australia’s super funds will swell to enormous size. How they invest our retirement savings will become an even trickier prospect. Over the next 20 years, the superannuation system will grow to a colossal size – an estimated $9.2 trillion, or 206 per cent of its current size, according to a report from Deloitte’s…