AustralianSuper

As AustralianSuper continues to grow, Mark Delaney is focusing his attention on the burgeoning private markets space and the problem of culture in megafund land. “Size can creep up on you. You stand still, and all of a sudden you’re bigger than what you think you are. I first started managing pension money 20 years…

The tilt at Sydney airport and the privatisation of WestConnex has showcased the appetite for Australian infrastructure from super funds and offshore investors. The only problem is in meeting it. “The appetite to invest in Australia, as you’re seeing through these mega-privatisations, is huge,”says Nicole Walker, chief commercial officer at specialist alternative asset manager HRL…

Cashed-up industry funds are expected to be leaders leader in post-pandemic M&A activity as investors begin to see the light at the end of the Covid-19 tunnel. While Fidelity anticipates that the Covid-19 pandemic has caused a structural shift in consumer and market behaviour, the increased certainty provided by reopening means that M&A activity will…

Super funds may soon be forced to reveal internal valuations for unlisted assets. But the lesson from the Future Fund is that the new regulations aren’t in anybody’s best interests. While much of government’s recent focus has been on implementing the “Your Future Your Super” performance test, super funds could also soon be subject to…

Last year a big super fund, Aware Super, shocked the M&A market in Australia with a surprise bid for a listed company, OptiComm. It signalled a new era in competition among players at the big end of town. It was the first time a super fund had tried to buy a whole listed company in…

AustralianSuper is no longer the underdog. The question is what becomes of the industry fund culture when industry funds “are the status quo”. As Australia’s first $200 billion+ megafund, AustralianSuper is no longer the upstart born of the 2006 merger of the Australian Retirement Fund (ARF) and the Superannuation Trust of Australia (STA). It’s also…

In his final speech to the Australian Council of Superannuation Investors (ACSI), Ian Silk defended the organisation against all comers. But the Morrison Government is unlikely to relent. “To be prudent stewards of capital and to act in their members’ best interests, investors must remain focused on ESG issues in their portfolios,” Ian Silk said…

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…

Last week was a big one for the chief executives of AustralianSuper and Cbus. Their funds announced record-setting returns for the financial year and the next day they both took another hammering from a Commonwealth parliamentary committee. The House of Representatives Standing Committee on Economics, chaired by Tim Wilson, a Liberal MP, is often enlivened…

Industry fund-owned ‘The New Daily’ is once again in political hot water after a controversial deal with AustralianSuper to auto-subscribe 800,000 of the fund’s members to the publication. ‘The New Daily’ has become a bee in the bonnet for a number of Liberal backbenchers, most notably NSW Senator Andrew Bragg, who has characterised the publication…