This Month
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.
Investment bank org charts are getting remade for the age of big super
Jarden is just the latest big investment advisor to reconsider the best way to interact with retirement funds as they become bigger players in capital markets.
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.
Cyberattack exposes Labor big super weakness
Cyber breaches and Donald Trump’s sharemarket rout have exposed further flaws in Labor’s compulsory super system and its union-aligned funds.
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
ASX wipes $35b; Hackers attack super funds; Joe Aston on James Hardie
Read everything that’s happened in the news so far today.
RBA review says a superannuation crisis is ‘extreme but plausible’
The central bank warns that a sustained downturn in the Australian dollar may spark a crisis for retirement funds and for $4.2 trillion in savings.
AusSuper resists Europe’s lure ahead of Trump’s ‘Liberation Day’
Sceptics have pushed US equities lower believing Trump’s tariffs will do more harm than good, but the giant fund is resisting the urge to switch to European stocks.
Norway’s sovereign wealth fund to vote against Rio Tinto unification
The huge fund intends to vote to keep Rio Tinto’s dual-listed structure, despite other shareholders supporting a bid to review it.
March
Insignia cops the biggest losses as retirement savers move to rivals
Some $74 billion in superannuation switched providers last year, new research shows, much of it headed to industry funds and self-managed wealth platforms.
How super funds treat your money when you die is shameful
What we have is a returns-focused industry that makes it very easy to put money in, but much harder for your next of kin to get it out.
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.
Super funds ‘stomach the volatility’ until equities rebound
Hostplus CIO Sam Sicilia is preparing for a sharp bounce in equity markets, while AustralianSuper’s Mark Delaney hasn’t touched his portfolio.