Funds Management News

InvestorDaily The prudential regulator has declined to intervene in Maritime Super’s controversial asset pooling deal with Hostplus, saying it does not want to “stifle innovation” as super funds face increasing pressure to rapidly gain scale or exit the sector. Liberal senator Andrew Bragg, who has been a fierce critic of the deal, grilled APRA at […]

InvestorDaily Local superannuation fund Rest has announced the appointment of a new head of Australian equities. Chris Drew will join the fund next month from Australian Catholic Super Fund where he worked as investment manager – public markets since July 2015. Mr Drew, who will be based in Rest’s Sydney office, will oversee the company’s […]

InvestorDaily The Treasurer has given final approval for Bank of Queensland to own a controlling stake in the industry fund-backed bank. In a statement, BOQ said the legislative instrument giving effect to the purchase would be finalised in the coming days, with the purchase due to complete on 1 July. “The acquisition of ME Bank […]

InvestorDaily The government’s Your Future, Your Super bill has passed the Senate. The legislation was debated on Thursday and passed 34 to 30 with amendments. Following wide criticism, one of the amendments included the removal of giving power to Treasury as to where funds can be allocated. The Your Future, Your Super package’s “stapling” measure […]

Investment Magazine Funds are being forced to consider not only their performance but also their consumer brands, social image and ESG credentials as new regulations encourage members to make more active choices about their super. KPMG’s national section leader for asset and wealth management, Linda Elkins, says the Your Future Your Super legislation does puts […]

InvestorDaily The Morrison government has unveiled a number of reappointments to the Future Fund board of guardians. Patricia Cross, who currently works as chair of the Commonwealth Superannuation Corporation, has commenced a five-year term. Ms Cross has “extensive experience in corporate governance and investing in and managing financial assets” and has previously held roles as […]