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Hannah Wootton

Today

Damian Graham, who oversees $160 billion of superannuation assets, has seven direct reports.

No rate cuts and maybe a rise as inflation sticks, super funds warn

The investment chiefs of the country’s biggest funds also have a bleak outlook for Aussie shares over the next year, after global equities drove double-digit returns in FY23.

This Month

You wouldn’t expect a former ASIC executive to be scammed, but Karen Chester’s experience shows how vulnerable everyone is.

This ASIC boss was scammed. She has a warning for you

When Karen Chester bought shoes in a sale last month, she did not expect to be scammed. The fact she was shows the urgent need for reforms.

Look past election noise, Anna Shelley says to superannuation investors.

Super fund savings will ride out ‘year of elections’: CIOs

But investment chiefs warn that the rise of populism or an increase in US-China tensions could flow through to short-term returns.

Super funds are not interested in nuclear power investments.

Too uncertain, too slow: funds rule out financing Dutton nuclear plan

The disinterest from superannuation funds comes despite appetite for other energy transition assets and a shortage of domestic investment opportunities.

UniSuper’s investments boss John Pearce jumped on the AI boom early.

Time to buy into tech stocks has passed, says UniSuper

Soaring technology stocks helped increase the retirement savings of the fund’s customers last financial year, but it’s hitting the pause button on further investment.

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Jimmy Lai.

Why Britain’s new PM could hold the key to Jimmy Lai’s freedom

Keir Starmer cut his teeth as a barrister at the same firm as Australian human rights lawyer Jennifer Robinson, who is fighting for the release of Hong Kong mogul Jimmy Lai.

Cbus is standing by its exposure to office property even as valuations continue to fall.

Heavy office tower exposure drags down Cbus’ annual returns

But the construction industry super fund stood by its heavy allocation to the asset class, even as its financial year returns fell below rivals.

Aware Super CIO Damian Graham.

Aware Super cashes in on tech, healthcare bias to return 11pc

Aware follows several other super funds with high global equities exposure reporting returns of more than 11 per cent for 2023-24 as tech stocks soared.

Anna Shelley’s punt that global equities would perform better than expected last year paid off.

Retail super funds ride tech boom to outperform industry rivals

Two of Australia’s largest retail superannuation funds delivered 11-plus per cent returns as they benefited from soaring sharemarkets.

Opportunities still abound in AI, and will for the next 30 years, Mark Delaney says.

Industry super giant lags rivals with 8.5pc return

Defensive positioning against equities stung AustralianSuper early in 2023-24, but growing its exposure to soaring technology stocks helped it recover.

HESTA tapped into soaring global equity markets to drive returns this financial year.

HESTA returns 9.1pc, looks for domestic opportunities

Soaring global equity markets drove the industry super fund’s high returns, but its investment team believes local markets will be more fairly valued going forward.

Technology stocks, and global equities more broadly, were crucial to ART’s returns, Andrew Fisher says.

Super giant seeks tech stock ‘second wave’ after delivering 11.3pc

Rising tech stocks helped land an 11.3 per cent return for Australian Retirement Trust superannuation members, but unlisted property was still a drag.

June

Suburbs such as Double Bay in Sydney’s inner east have among the highest rates of residents with more than $3 million in super.

The areas most – and least – hit by Labor’s $3m super tax

Australians with super balances of more than $3 million are less likely to live in rural areas, according to new analysis, despite concerns about the tax focusing on farmers.

Vision Super has invested in Whitehaven since weakening its ESG investment policy.

Vision Super buys up Whitehaven shares

The fund, which sells itself to customers as environmentally conscious, has watered down its climate investment promises as “green hushing” continues to rise.

Nine’s Mike Sneesby, News Corp’s Michael Miller and Seven West Media CEO Jeff Howard in Canberra on Friday.

Calls to ban Facebook and Instagram in Australia

The heads of major media organisations say Meta’s refusal to renew about $70 million in commercial deals with news outlets will likely lead to job losses and newspaper closures.

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Nine’s Mike Sneesby, News Corp’s Michael Miller and Seven West Media CEO Jeff Howard in Canberra on Friday.

Meta blackmailing government over deals with news outlets: Media execs

The media CEOs also say they will have to cut jobs if Meta does not pay for news content; Anthony Albanese says the opposition’s nuclear power plan will deter investors and delay the energy transition. How the day unfolded.

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Super fund customers are on track for strong returns this year.

How much your super fund is expected to grow this financial year

The expected returns were driven largely by strong performances from overseas equities, Chant West found.

Gender equality campaigners need to do more to get young men on board, Susan Lloyd-Hurwitz says.

Director urges equality advocates to leave their echo chamber

True gender equality benefits men as well as women, Susan Lloyd-Hurwitz says, but advocates need to convince boys of that or risk going backwards.

Office tower write downs have sparked ongoing concern from APRA about super funds’ unlisted property valuations.

Super funds fall short on unlisted asset valuations: APRA

Super funds are not revaluing their $650 billion unlisted asset portfolios enough, potentially hitting the prices paid by customers and their returns, APRA has warned.

Australian Securities and Investments Commission deputy chair Sarah Court and chair Joe Longo say a digital uplift for the regulator is urgent.

Labor open to more ASIC funding to deter ‘existential threat’

Labor has increased ASIC’s funding by almost $200 million in the May budget, but the regulator says it needs more money to modernise its enforcement.

Original URL: https://www.afr.com/by/hannah-wootton-h1gmvp