Today
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
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.
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.
- Exclusive
- Nuclear energy
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.
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.
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.
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 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.
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.
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 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.
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
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 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.
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.
- Updated
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.
- Updated
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.
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.
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.
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.