Garry Weaven was instrumental in the development of the industry fund movement, and as Chair of IFM Investors, he outlined his five areas of future investment potential and policy in his address to the AIST Conference.
The Royal Commission has severely damaged the reputations of many retail funds. While the CEO of the peak body for industry funds is not complacent, battles have been won.
After decades of intense work in financial markets, including Asia-wide responsibilities, a sabbatical walk along Spain’s Camino led to an unexpected mix of superannuation insights and dealing with death.
Major institutional asset managers struggled to meet their long-term return objectives last year, and conditions are not expected to improve. But the market usually throws up opportunities to outperform.
VicSuper decided it was unacceptable for its members to face a potential reduction in income and assets below certain levels, and its approach has evolved to help achieve income security in retirement.
The mandating of independent directors for Australian super funds is facing resistance. While it’s difficult to define ‘independence’, global experts on board governance provide support for the government’s stance.
Extracts from Peter Costello’s talk to super fund executives, where he criticises their self-interest and poor handling of the super policy debate. And from a prior speech, he backs Nick Sherry’s call for simplicity.
The government guarantee on deposits has finally been legislated and based on information released by APRA you’d be forgiven for assuming that superannuation bank deposits would be covered. Not necessarily.
Defined benefit funds will be scarce in the future but their features shouldn’t be forgotten. Defined contribution funds should be incorporating some of these features to their members’ advantage as well their own.
A simple yet effective improvement to Australia’s superannuation system would be the uniform reporting of projected retirement incomes to keep individuals focused on building enough super for their twilight years.
Research shows most super fund Investment Managers consider tax implications when making their investment decisions. With the right tax knowledge and confidence, they could achieve even greater tax efficiency.
APRA’s decision to continue to class deposits in public super fund as ‘non-retail’ makes it difficult for them to compete with banks and SMSFs. However, some in the industry still believe trustees can take a stand.
The top priority for all superannuation funds is improving member engagement, but most need to improve their techniques. It’s one way to reduce the leakage of members, especially to SMSFs.
The funds management industry is undergoing consolidation and evolving rapidly, under pressure to provide better service and high returns while cutting costs. Chris Cuffe discusses the present and the future.