SUPERANNUATION – AUSTRALIA

Self-Managed Super popularity linked to sustained Satisfaction lead

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Mar-15

A Roy Morgan Single Source survey has found that members of self-managed superannuation funds (SMSFs) have consistently been more satisfied with their fund’s financial performance than members of other funds over the last 13 years. SMSFs scored a satisfaction rating of 77.3 per cent in the six months to January 2015, compared with 59 per cent for industry funds and 56.3 per cent for retail funds. The survey also shows that satisfaction with super increases with the balance held, although it is worth noting that SMSFs have the highest satisfaction for all balances over $A5,000

CORPORATES
ROY MORGAN RESEARCH LIMITED

IFM to invest in international equities

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Original article by Amanda Saunders
The Australian Financial Review – Page: 27 : 2-Mar-15

IFM Investors will expand into international shares, as part of its growing push to diversify beyond Australian asset classes. CEO Brett Himbury argues that the nation’s superannuation system needs to reduce its focus on the local sharemarket, noting that many of the group’s clients already have exposure to offshore equities. IFM began investing in overseas infrastructure assets several years ago

CORPORATES
IFM INVESTORS PTY LTD, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM

$500m pay cut drives SMSFs to equities

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Original article by Philip Baker
The Australian Financial Review – Page: 21 : 24-Feb-15

Credit Suisse estimates that each 25 basis point reduction in the cash rate slashes the income of self-managed superannuation funds (SMSFs) by $A500m. The firm notes that SMSFs now boast some $A568bn worth of funds under management, with equities accounting for 42 per cent of their investment portfolios. SMSFs are likely to further increase their exposure to equities in order to offset the impact of lower interest rates

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, DULUXGROUP LIMITED – ASX DLX, PHILO CAPITAL ADVISERS PTY LTD, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Roy Morgan announces 2014 winners of Banking and Finance Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its 2014 Customer Satisfaction Awards for the banking and finance industry on 18 February 2015. P&N Bank was named the Bank of the Year, while the Commonwealth Bank won the award for Major Bank of the Year. Bendigo Bank was named the Business Bank of the Year, Defence Service Homes Insurance took out the award for General Insurer of the Year and ESSSuper received the award for Industry Superannuation Fund of the Year

CORPORATES
ROY MORGAN RESEARCH LIMITED, P&N BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BENDIGO BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, NRMA LIMITED, REST SUPER PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, PLUM FINANCIAL SERVICES LIMITED

Super must do better for women: Corboy

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Original article by Sally Patten
The Australian Financial Review – Page: 16 : 16-Feb-15

The assets of the HESTA superannuation fund have increased from $A1.4bn to $A30bn during Anne-Marie Corboy’s 15-year tenure as CEO. The industry super fund for healthcare workers now boasts about 800,000 members. Meanwhile, Corboy says more action is needed to boost the retirement income of women, noting that the super system was not designed to take into account the fact that women typically spend more time out of the workforce than men. Corboy will retire in late February 2015

CORPORATES
HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, UTILITIES TRUST OF AUSTRALIA, NETBALL AUSTRALIA, MOTHERS DAY CLASSIC FOUNDATION

Change laws to boost women’s super: ASFA

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Original article by Nassim Khadem
The Australian Financial Review – Page: 24 : 13-Nov-14

It is estimated that men have an average of $A197,000 in their superannuation fund upon retirement, compared with just $A105,000 for women. The Association of Superannuation Funds of Australia (ASFA) has proposed relaxing discrimination laws to permit higher employer contributions to female employees’ super accounts. The ASFA also proposes scrapping the superannuation guarantee income threshold, which is currently set at $A450 per month

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, RICE WARNER ACTUARIES PTY LTD, AUSTRALIA. SEXUAL DISCRIMINATION COMMISSION

Fund’s bid to cut costs, lift returns

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Original article by Andrew White
The Australian – Page: 19 : 10-Nov-14

The 2014 annual report of industry superannuation fund AustralianSuper shows growth in investment income from $A2.08bn to $A2.9bn and funds under management from $A65bn to $A78bn. Head of equities Innes McKeand also notes that $A8.8bn of the latter has been reallocated to internal managers during the past year, with a target of around $A40bn by 2019. At the moment, all overseas equities are still managed by external providers, such as MFS Institutional Investors, Baillie Gifford Overseas and State Street Global Advisers

CORPORATES
AUSTRALIANSUPER PTY LTD, MFS INSTITUTIONAL ADVISORS (AUSTRALIA) LIMITED, BAILLIE GIFFORD AND COMPANY, STATE STREET GLOBAL ADVISORS AUSTRALIA LIMITED, IFM INVESTORS PTY LTD, ISPT PTY LTD, PERPETUAL LIMITED – ASX PPT, FIL INVESTMENT MANAGEMENT LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, AIRLIE FUNDS MANAGEMENT PTY LTD, BENTHAM ASSET MANAGEMENT PTY LTD, PORT BOTANY, PORT KEMBLA, QUEENSLAND MOTORWAYS LIMITED, TRANSURBAN GROUP LIMITED – ASX TCL

‘Corrupt culture’ in super fund

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Original article by Joanna Mather, Sally Patten
The Australian Financial Review – Page: 1 & 6 : 3-Nov-14

Jeremy Stoljar SC, counsel assisting the Royal Commission into Trade Union Governance & Corruption, has criticised the Cbus industry superannuation fund. He argued that evidence of members’ details being leaked to the Construction, Forestry, Mining & Energy Union showed an overly close relationship and a "cultural failure". Industry Super Australia CEO David Whiteley rejects any suggestion the leak is symptomatic of practices in the sector generally. Stoljar also recommended criminal charges against some building union officials over an unlawful secondary boycott

CORPORATES
CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, BORAL LIMITED – ASX BLD, LIS-CON HOLDINGS PTY LTD, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, HIGH COURT OF AUSTRALIA

Hard times loom for Future Fund

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Original article by Richard Gluyas
The Australian – Page: 21 : 16-Oct-14

David Neal, MD of the Future Fund, has unveiled a 2013-14 rate of return of 14.3% for the Australian Government’s civil service superannuation liabilities manager. This is up from the previous estimate of 13.9%, and follows a result of 15%-plus in 2012-13. However despite further growth of 2.9% in the first quarter of 2014-15, Neal warns that the performance will now level off due to the tapering of quantitative easing and rising interest rates in the US. This was backed by investment strategy and risk head Stephen Gilmore, while chief investment officer Raphael Arndt said the Future Fund may invest in infrastructure assets privatised by state governments

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIAN NATIONAL UNIVERSITY

Higher value Super members rate performance of industry funds ahead of retail funds

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Oct-14

A Roy Morgan Single Source survey has found that 84.4 per cent of Australians aged 14+ who are members of industry superannuation funds and whose super balance exceeds $A700,000 are satisfied with the financial performance of their fund. Likewise, 76 per cent of retail fund members whose super balance tops $A700,000 are satisfied with their fund. In contrast, just 46.1 per cent of industry fund members and 51.8 per cent of retail fund members whose super balance is less than $A5,000 are satisfied with the financial performance of their fund

CORPORATES
ROY MORGAN RESEARCH LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, UNISUPER LIMITED, SUNSUPER PTY LTD, REST SUPER PTY LTD, HOST-PLUS, AUSTRALIANSUPER PTY LTD, FIRST STATE SUPER, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED