NewsBite

QSuper

October 2023

Super fund QSuper hands back keys to NYC office tower

QSuper has quit a big bet on Manhattan real estate as rising interest rates and falling vacancies spoil its global property interests.

  • Jonathan Shapiro

July 2022

Australian Retirement Trust, QIC back $500m affordable housing

The investment vehicle put together by ART and the investment manager comes as major super funds step up investment in affordable housing.

  • Nick Lenaghan

March 2022

Former Sunsuper chairman Andrew Fraser and new Australian Retirement Trust chairman Don Luke were quick to pass on merger benefits.

Six mega funds will tower over super

A mega super fund was born this week when QSuper and Sunsuper became the $207 billion Australian Retirement Trust. It’s a taste of things to come.

  • Tony Boyd

November 2021

Shine Lawyers is seeking damages, a refund or compensation to up to 140,000 members.

QSuper sued over AFCA insurance call

QSuper has been accused of rorting up to 140,000 members by overcharging life insurance premiums in a new class action.

  • Michael Roddan
The refusal to fix legitimate governance issues does nothing to settle the unstable political foundations on which Australia’s compulsory superannuation system unfortunately rests.

Big super should fix governance to stay in business

Upholding the highest governance standards would strengthen the industry funds’ arguments that members should be on the hook if things go wrong.

  • The AFR View
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APRA is pushing for smaller, uncompetitive super funds to merge with a larger fund.

Wave of super mergers to pave way for $100b mega funds

A wave of mergers will lead to the creation of a dozen mega super funds within four years, as APRA pushes small operators to exit the $3.3 trillion sector.

  • Updated
  • Michael Read
The takeover of Sydney Airport must pass several regulatory hurdles.

Mega Sydney airport deal faces ACCC heat

Sydney Airport and suitor IFM Investors face a potential battle with the competition watchdog and small shareholders after agreeing a $23.6 billion takeover.

  • Updated
  • Liam Walsh and Elouise Fowler

October 2021

The ATO has been auditing the major superannuation funds for possible tax avoidance.

Qsuper faces audit of $200m franking credit stripping scheme

Members of one of Australia’s largest industry super funds may have to foot the bill for a record penalty over a controversial tax strategy.

  • Michael Roddan

September 2021

The government reforms, known as the “Section 56” amendment, will stop funds from paying for penalties using members’ savings from January.

QSuper seeks court nod to levy fee for possible fines

The $120 billion fund is pleading with the Queensland Supreme Court for the power to charge members a fee that will help pay for penalties in the event of breaches.

  • Michael Roddan
The Sydney Airport proposal, together with other activity, has led some to declare we are witnessing the beginning of a wave of super fund-led public company takeovers.

‘Super-charged’ public takeovers?

Some say we are witnessing the beginning of a wave of super fund-led public company takeovers, and Canberra has pricked up its ears.

  • Chris Blane, Diana Nicholson and Clayton James

August 2021

Soon-to-be-former QSuper CEO Michael Pennisi.

QSuper’s dismal return its greatest success

CEO Michael Pennisi believes member satisfaction is a true measure of a fund’s success.

  • Michael Roddan

July 2021

The pandemic has further enhanced the allure of unlisted infrastructure assets, especially for giant super funds.

Why industry super funds have a love affair with infrastructure

Why are the country’s giant industry super funds so eager to acquire the pandemic-struck Sydney Airport?

  • Karen Maley
Rex Airlines’ deputy chairman John Sharp worries Sydney Airport’s new owners will hike aeronautical charges if a $22 billion takeover bid succeeds.

Airlines fear ‘gouging’ if Sydney Airport bid succeeds

The consortium that made the $22 billion takeover proposal has pitched it as a great deal for “Sydney and the travelling public”. Airlines beg to differ.

  • Jenny Wiggins
Sydney Airport’s passenger numbers have plunged since the pandemic broke out, creating a buying opportunity for investors.

Big super lobs $22b for nation’s biggest airport

Some investors say an $8.25-per-share cash takeover offer is fair. Others would hate to see one of the world’s few remaining listed airports fall into private hands.

  • Updated
  • Jenny Wiggins
This is another example of the increasing importance of Australian industry super funds in the infrastructure market, in Australia and internationally.

Sydney Airport raid shows the power of big super

Sydney Airport offers the prospect of steady returns for long-term investors when the borders open and the bid is another example of the increasing importance of Australian industry super funds in the infrastructure market.

  • Jennifer Hewett
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June 2021

Chairman of QSuper, Don Luke, who is in the firing line of activists members over climate change risk management.

QSuper faces member backlash over climate risk concerns

Lawyers acting for two QSuper members wrote to Queensland’s largest super fund urging it to strengthen its policies to better manage climate change risk.

  • Carrie LaFrenz
Hostplus CEO David Elia says the early discussions had brought to light a strong alignment between the industry funds.

Statewide Super chooses Hostplus for merger talks

South Australian-based superannuation fund Statewide Super has entered exploratory merger talks with industry giant Hostplus. Collectively, the funds would form a $77 billion super giant.

  • Yolanda Redrup

April 2021

Naomi Edwards is driving mergers across the superannuation system.

Spirit Super hits out at Maritime-Hostplus-style mergers

Naomi Edwards, the chairwoman of the $23 billion Spirit Super, has criticised parts of the $3 trillion sector for “getting wealthy on the back of a compulsory superannuation system”.

  • Michael Roddan

March 2021

Sunsuper chief executive Bernard Reilly, who will lead the merged fund.

QSuper, Sunsuper deal creates $200b fund

QSuper and Sunsuper have signed a heads of agreement to merge and create Australia’s second largest superannuation fund.

  • Ronald Mizen

November 2020

Mike Callaghan has staunchly defended his report on retirement income from critics.

Callaghan blasts 'fake news' from super industry and Labor critics

The veteran public servant has unloaded on politicians and industry lobbyists peddling disinformation.

  • Aleks Vickovich and Michael Roddan

Original URL: https://www.afr.com/company/qsuper-1n54