This Month
Super boards, executives failing on unlisted asset valuations
The regulator demanded funds sharpen their review processes, warning it will not hesitate to take further action and may pursue individuals.
- Hannah Wootton
- Exclusive
- Superannuation
How big super is spending your money on sponsorship and marketing
Jumps in advertising spends at industry giants such as Aware Super and UniSuper came despite a crackdown by the watchdog questioning whether these costs are in members’ best interests.
- Hannah Wootton
November
HESTA forced to repay; More Jones charges; Why Australia’s stuck
Read everything that’s happened in the news so far today.
- Exclusive
- Financial planners
PM’s financial advice reforms at risk of collapse
The government’s efforts to get a deal on giving more Australians access to good financial advice without paying thousands of dollars have stalled after an impasse on funding.
- Updated
- Jennifer Hewett
HESTA forced to repay 120,000 customers stranded in poor investments
The prudential regulator said the industry super fund’s deficient procedures left members worse off, including one who was down $17,000 as a result.
- Updated
- Hannah Wootton
Software unicorn SafetyCulture to be run from New York with new CEO
SafetyCulture’s founder Luke Anear says he never really wanted to be chief executive, and that the company may be more likely to go public under Kelly Vohs.
- Amelia McGuire
October
MinRes expands probe into alleged tax dodge to address ‘inconsistencies’
The West Australian mining company will on November 4 report on its inquiry into allegations that its billionaire founder Chris Ellison ran a tax evasion racket.
- Elouise Fowler and Hannah Wootton
- Exclusive
- Governance
Big super pushes boards on culture after WiseTech, MinRes dramas
Industry superannuation funds are ramping up their focus on the culture of the companies they invest in as scandals wipe billions off corporate valuations.
- Updated
- Fiona Buffini and Hannah Wootton
Big super’s executive gender pay gap revealed
Analysis by The Australian Financial Review also shows who the highest-paid superannuation bosses were last year.
- Hannah Wootton
HESTA, ANZ pilot use of A$DC stablecoin for payday super
Bringing data and payments together promises efficiencies for super funds grappling with new laws that will more than double incoming contributions.
- James Eyers
Revealed: Which super fund directors earn the most
Payments to directors at one fund outstripped those of comparable size by more than half a million dollars, despite delivering worse returns than most of their rivals, analysis by AFR Weekend shows.
- Hannah Wootton
- Exclusive
- Superannuation
AustralianSuper ESG option invested in nuclear weapons: report
Australia’s 14 biggest superannuation funds are investing about $3.4 billion in nuclear weapons despite many promising to avoid controversial arms.
- Hannah Wootton
August
Construction cost blowout kills $750m housing project
Metrics appoints receivers to a North Melbourne site that was to be developed into a $750m urban village after blowout in construction costs.
- Larry Schlesinger
July
AustralianSuper, Hesta look to supercharge housing investment
The industry super fund giants have taken shared ownership of Assemble, which develops affordable rental and for-sale housing.
- Michael Bleby
Revealed: Which super funds rate the best – and worst – for retirement
Superannuation funds are going backwards in terms of preparing their customers for retirement, new research shows.
- Hannah Wootton
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.
- Hannah Wootton
Grow Inc kicks off $60m Series D raise; Hitachi Ventures to anchor
The super admin provider, which caused a stir last year after it nabbed HESTA from rival Link, has tapped Highbury Partners to kick off a $60 million raise.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- 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.
- Hannah Wootton
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.
- Hannah Wootton
June
HESTA cuts $250m cheque for Stafford Capital Partners’ PE unit
Stafford flies under the radar, but is a port of call for local private equity firms looking to secure superannuation funds as co-investors on new deals.
- Sarah Thompson, Kanika Sood and Emma Rapaport