This Month
Post office burglaries spark super fund security alert
Mercer Super has written to members after letters were stolen from its post box during a break-in at Australia Post’s Melbourne GPO.
Macquarie among super platforms urged to pay up for $1b collapse
Insignia boss Scott Hartley says financial advisers should not foot the compensation bill following the collapse of First Guardian and Shield Master Trust.
Insignia undervalued by public markets, says CEO after $3.2b takeover
All-cash private equity deal will put an end to the uncertainty that has hung over the 180-year-old wealth management giant amid a protracted takeover tussle.
AMP boss urges platforms to ditch ‘bad apples’ after $1b failure
CEO Alexis George says the recent failure of two investment schemes was “horrific for the industry and horrific for the community”.
Tap and go? Credit cards? In these suburbs, cash is still king
More than 1 million people use banknotes and coins for their everyday payments, even as regulators and banks prepare for the day the country goes cashless.
Victims of collapsed First Guardian, Shield may lose more than $700m
The corporate regulator is investigating whether thousands of workers were funnelled into high-risk investments. Compensation could top out at $300 million.
NAB board backs CEO Irvine as investors demand ‘please explain’
The bank’s shareholders say directors must clarify discussions with the executive, warning there was a “lack of confidence in the investing public”.
‘We need to get there faster’: funds race to create retiree products
Andrew Howard, head of strategy at MLC-owner Insignia, says big funds must quickly shift their priorities from accumulating wealth to drawing it down.
Big super misfire prompts high-risk retirement gambles, falling trust
Workers say they need nearly $1 million to retire comfortably, but fewer than one in three say they are prepared for this phase of their lives, a review shows.
CBA’s ‘silly’ price catches investors in resources bind: UniSuper
John Pearce says Australian investors are stuck in the unenviable position of putting money into overvalued banks or betting on a rebound in the Chinese economy.
‘We’re losing companies offshore’: ASX dual-class shares bid finds backer
UniSuper’s chief investment officer said the right safeguards were needed, but investors should have an “open mind” to the changes.
Major funds at odds over ASX’s hopes for dual-class share schemes
Some investors say allowing founders a powerful say over their companies after a listing makes a lot of sense; others see a governance disaster in waiting.
Senior superannuation fund manager allegedly sexually harassed staff
An employee at a multibillion-dollar Australian pension investment firm allegedly made repeated unwelcome advances towards several colleagues.
Two retail super funds outperformed many larger industry rivals
Booming equity markets have boosted two of the biggest retail superannuation funds to return rates nearing 13 per cent over the past financial year.
Dexus sues AMP after losing stake in $1.8b Macquarie Centre
The ASX-listed property giant was forced to sell its stake in one of Sydney’s biggest shopping malls. Now it’s calling on an indemnity clause to cover its losses.
‘Red alert’ for dodgy advisers pushing risky super schemes
Deputy chairwoman Sarah Court says ASIC is already investigating two big platform trustees for failing to protect consumers from high-risk investments.
Super giant turns to Japan amid Trump trade fears
The country’s second-biggest superannuation fund is investing more heavily in Japan at the expense of local shares and the US.
June
The ASX’s bumper year makes for bullish investors (despite the chaos)
The local sharemarket has closed 10 per cent higher for the year, its best performance since the pandemic rebound in 2021. Fund managers are hoping for more.
Wayne Swan calls for super ‘armistice’ at 12pc
The former treasurer said a super guarantee at 12 per cent of a worker’s earnings “provides adequate retirement savings for most”.
Super funds cautious on US despite Trump plans to drop ‘revenge tax’
The threat of punitive taxes on super funds in the US may have eased, but they’re still taking a cautious approach to investments in Trump’s America.