This Month
Big super’s cold feet stall Labor’s $10b low-cost housing plan
More than two years after pledging hundreds of millions of dollars to the flagship scheme, some pension funds are dragging their feet in financing developments.
May
Massive Airwallex cash exposes VC herding
The mega round featured Blackbird and Airtree, whose appearance speaks more to their own past bets.
Airwallex secures one of the country’s biggest funding rounds ever
The global payments group has raised $467 million from investors, who include all three of the country’s major venture capital firms.
From banking to rocket science: the family behind Australia’s space bid
After two decades at Citibank, Adam Gilmour, his brother James and his wife Michelle are just days away from launching Australia’s first locally made space rocket.
Rich families outstrip super funds in the hunt for tech start-up riches
Australia’s richest families have overtaken superannuation funds for the first time as the biggest investor group behind local venture capital and private equity.
April
Big investors wield private assets to cushion returns from wild market
The nation’s largest money managers, including the big superannuation funds, are using unlisted holdings to manage the fallout of volatile global equities.
‘Could be next Cochlear or ResMed’: heart device maker wins FDA approval
EBR Systems, backed by investors such as HESTA, Hostplus and private equity veteran Mark Carnegie, can start selling its technology within months.
No room for super complacency about cyber risk
Big super’s governance failures are now piling up coordinated cyberattacks targeting some of the nation’s largest industry funds.
Burke breaks silence on fund hacks as Victoria Police moves in
Cybersecurity Minister Tony Burke has broken his long silence on last week’s co-ordinated attack on superannuation funds.
Cyber minister Tony Burke ‘radio silent’ on super breach: Coalition
The accusation comes after cybersecurity firms identified the details of thousands of Australian retirees for sale online.
AusSuper to refund customers as Cbus admits hack
AustralianSuper has vowed to refund members who had $500,000 stolen from their accounts in a cyberattack.
Retirees are trying to change their super. They can’t log in
While market volatility is wiping billions off sharemarkets, super members wanting to check their balances or change investments are being hampered by outages.
Cybercriminals impersonated super executives in week of mass breach
The attacks occurred in the same week hackers compromised the largest funds and siphoned retirement savings out of member accounts.
Super groups accused of resisting efforts to lift security before hack
A representative of the Association of Superannuation Funds of Australia had told a consumer advocate that stronger protections would put “too high” a burden on funds.
How hackers struck super fund customers while they slept
The cyberattack that has robbed Australians of money from superannuation accounts began with criminals attempting to access accounts in the dead of night.
What you need to know about the massive superannuation cyberattack
Several super funds with millions of members have been subjected to a co-ordinated cyberattack. Here’s what you need to know.
Money taken in co-ordinated cyberattack on big super funds
The nation’s largest superannuation funds were repeatedly warned they were underprepared for cyber threats before criminals hacked into thousands of accounts and stole retirees’ savings
EVP claims StrongRoom founder admitted to fraud, faked accounts
Documents filed by the venture capital firm also allege one of the software start-up’s directors used company money to pay for a holiday to Morocco.
Super funds delaying death payouts also charge the most fees
Analysis from a peak consumer group comes the same day as ASIC released a damning report that revealed the ‘sad situation’ for the families of dead members.
March
ASIC reads big super the riot act on death insurance, savings payouts
A review of how funds process insurance and savings payments to the families of dead members found excessive delays and serious customer service failings.