CareSuper and Spirit Super agree to merge - Investment Magazine
WEBJun 1, 2023 · The two funds begun exploring the possibility of merging in November last year. CareSuper was established in 1986 and has around 220,000 members and $20 billion in FUM. Spirit Super was established in 2021 through the merger of Tasplan and the Motor Trades Association of Australia Superannuation …
As ART goes national, can it close the gap on AustralianSuper?
WEBAug 1, 2023 · In the short term, the difference in strategy has paid off for ART, which has just reported a 10 per cent return for its Super Savings Balanced option for the 2023 financial year compared to AustralianSuper’s 8.22 per cent for its Balanced Investment option. Of course, comparing two funds can depend on the time period chosen, with some ...
Hostplus still leads 10-year returns despite muted FY result
WEBJul 18, 2024 · Hostplus still leads 10-year returns despite muted FY result. Despite a relatively subdued return this year, the Hostplus Balanced investment option still leads the pack when it comes to 10-year returns among growth-tilted funds, according to analysis by research houses SuperRatings and Chant West. While the …
UniSuper and Australian Catholic Super complete merger
WEBUniSuper and Australian Catholic Superannuation (ACS) have completed a merger to form a $115 billion super fund which came about after ACS failed APRA’s performance test last year. The ACS investment team led by Michael Block will not be joining UniSuper a spokesperson for the fund confirmed. With a member base of 620,000 members, the ...
Affordable housing managers merge with industry fund backing
WEBJul 23, 2024 · The latest federal budget put forward a $11 billion boost to housing, but prominent industry figures like Aware Super chief investment officer Damian Graham said the real cost is likely to have a few more zeros at the end. “I mean, we’ve built 2000 [homes] for $2.3 billion,” he said at the Investment Magazine Fiduciary Investors Symposium ...
Green light for super funds to take on more advice
WEBJun 13, 2023 · Jones’ plan for super funds has drawn at least one supporter from the advice profession, with WT Financial Group CEO Keith Cullen backing the proposal. “We absolutely support the need for super funds to be able to provide simple, episodic and transactional advice – the appropriate guard rails will be imperative,” Cullen said.
Super funds, not advisers, on the hook for retirement: APRA
WEBAug 14, 2024 · The prudential regulator has made clear to a room full of the biggest super funds in the country that they are obligated to have a strategy that works for all members, from high-net-worth to low balance members. The message to the Conexus Retirement Conference was clear: outsourcing to independent advisers will not fulfill their Retirement Income Covenant obligations.
Rethinking retiree investment risks - Investment Magazine
WEBJun 12, 2015 · Retirement. A little-known administrative hurdle is prohibiting tens of thousands of poorer Australians from accessing the tax-free account-based pensions, as most super funds have placed a minimum balance requirement – as much as $50,000 at funds including AustralianSuper and HESTA – on retirees to apply for an ABP.
Capital Group appoints two former PIMCO portfolio managers
WEBOct 16, 2023 · Haran Karunakaran, who was a director in Capital Group’s investment product services team in Singapore, will become the fixed income investment director for APAC with a focus on Australia. He will relocate to Sydney for the role. Karunakaran joined Capital Group two years ago also from PIMCO, where he …
Superannuation in crosshairs of aged care funding debate
WEBAug 4, 2023 · The federal government and opposition have squared off over suggestions that retirement savings could be utilised to take pressure of the ailing aged care system. While Minister for Financial Services Stephen Jones has indicated super could be part of the conversation about the “crisis of aged care funding”, Deputy Opposition Leader Sussan Ley said it would further undermine consumer trust ...