SUPERANNUATION – AUSTRALIA

Leave RET alone, urge fund managers

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Original article by Andrew Main
The Australian – Page: 19 : 30-Sep-14

One option recommended by business leader Dick Warburton in his review of the Renewable Energy Target (RET) for the Australian Government is to reduce it from 41,000 gigawatt hours by 2020 to between 17,000 and 25,000. However the original RET is being strongly favoured by the Investor Group on Climate Change that represents some $A1trn worth of superannuation fund accounts. The lobbying body, which is chaired by Catholic Super CEO Frank Pegan, has started a public awareness campaign on the issue

CORPORATES
INVESTOR GROUP ON CLIMATE CHANGE, CATHOLIC SUPERANNUATION AND RETIREMENT FUND, AUSTRALIAN LABOR PARTY, AUSTRALIA. CLIMATE CHANGE AUTHORITY, AUSTRALIANSUPER PTY LTD, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP

Hedge funds chase self-managed super billions

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Original article by Jonathan Shapiro, Gretchen Friemann
The Australian Financial Review – Page: 1 & 12 : 10-Sep-14

There is growing interest in listed investment companies (LICs) in Australia, and hedge funds believe that these investment vehicles may allow them to attract capital from self-managed superannuation funds. Ellerston Capital and Global Wealth Partners are among the hedge funds that have launched investment vehicles that are modelled on LICs. It is estimated that SMSFs now hold some $A550bn

CORPORATES
ELLERSTON CAPITAL PTY LTD, GLOBAL WEALTH PARTNERS FUND LIMITED – ASX GWP, WHITEHAVEN FUNDS, ZG ADVISORS PTY LTD, BLUE SKY CAPITAL INVESTMENTS LIMITED, PERSHING SQUARE CAPITAL MANAGEMENT LP, RF CAPITAL PTY LTD

Woolworths’ pub fund lightens load with $603m property sale

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Original article by Ben Wilmot, Richard Gluyas
The Australian – Page: 17 : 9-Sep-14

Real estate funds management group Charter Hall and industry superannuation fund HOSTPLUS will jointly pay $A603m via a new unlisted vehicle to acquire pub assets. The seller of the freehold properties is the ALH Group linked to bottle shops and pubs operator Woolworths. The latter, through its venture with entrepreneur Bruce Mathieson, will lease back the 54 sites. The real estate holdings divestment by Woolworths has now reached $A2.9bn in value

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, CHARTER HALL GROUP – ASX CHC, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, BRUANDWO PTY LTD, HOST-PLUS, MH CARNEGIE AND COMPANY PTY LTD, AUSTRALIAN PUBS FUND, DAN MURPHY’S, BWS – BEER WINE SPIRITS, SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, LAUNDY HOTELS PTY LTD, TELSTRA STAFF SUPERANNUATION SCHEME, ALE PROPERTY GROUP – ASX LEP, HOTEL PROPERTIES INVESTMENTS – ASX HPI, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Big four banks facing strong competition selling superannuation to their customers

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Sep-14

A Roy Morgan Research Consumer Single Source survey has found that National Australia Bank had an 18.4 per cent share of its customers’ superannuation wallet in the year to July 2014. This compares with 20.5 per cent in the year to July 2010. The Commonwealth Bank now has a 13.2 per cent share of its customers’ super wallet, followed by Westpac with 13 per cent. Meanwhile, industry super funds hold around 25 per cent of bank customers’ super wallet, while AMP holds about six per cent

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP LIMITED – ASX AMP

Mining tax deal delays 12pc super until 2025

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 3-Sep-14

On 2 September 2014, the Australian Government finally succeeded in repealing the minerals resource rent tax in the Senate, after striking a deal with the Palmer United Party. The superannuation guarantee will now not be increased again from its current level of 9.5% until mid-2021. It will then reach the 12% target set by the previous federal government in its mining sector tax plans by 2025. Prime Minister Tony Abbott and Treasurer Joe Hockey says the Australian Labor Party could have averted the delay, which will reduce the retirement savings pool by $A128bn over 10 years, by supporting the repeal

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, PALMER UNITED PARTY, AUSTRALIA. DEPT OF FINANCE, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, INDUSTRY SUPER AUSTRALIA PTY LTD, FINANCIAL SERVICES COUNCIL, RIO TINTO LIMITED – ASX RIO, BUSINESS COUNCIL OF AUSTRALIA

Satisfaction with financial performance of superannuation highest since GFC

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-Sep-14

A Roy Morgan Single Source survey has found that 55.7 per cent of Australians aged 14+ who are members of a superannuation fund were satisfied with the financial performance of their fund in the six months to July 2014. This is 6.9 per cent higher than in July 2013. Roy Morgan’s "Superannuation Satisfaction" report also shows that satisfaction with self-managed super funds was 77.9 per cent in July 2014, followed by industry funds (56.2 per cent) and retail funds (54.2 per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

Telstra tops super list, warns of coming slowdown

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Original article by Sally Patten
The Australian Financial Review – Page: 13 &16 : 21-Jul-14

Data from SuperRatings shows that the average Australian superannuation achieved a return of 12.7 per cent in 2013-14. Telstra Super outperformed with a return of 15.8 per cent, followed by Intrust Super, UniSuper and AustralianSuper. Telstra also had the highest return over the last five years, with its balanced fund achieving an average return of 10.7 per cent annually over this period

CORPORATES
SUPERRATINGS PTY LTD, TELSTRA SUPERANNUATION SCHEME, INTRUST SUPER FUND, UNISUPER LIMITED, AUSTRALIANSUPER PTY LTD, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, MORGAN STANLEY CAPITAL INTERNATIONAL WORLD ACCUMULATION INDEX, REST SUPER PTY LTD, RETAIL EMPLOYEES SUPERANNUATION PTY LTD, WESTERN AUSTRALIA. GOVERNMENT EMPLOYEES’ SUPERANNUATION BOARD, RUSSELL INVESTMENTS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, VISION SUPER PTY LTD, VICSUPER PTY LTD, HOST-PLUS, ENERGY SUPER, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, CLUBSUPER

Super funds looking at 10pc-plus growth

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Original article by Clancy Yeates
The Australian Financial Review – Page: 20 : 20-Jun-14

Data from Chant West shows that the average Australian superannuation fund achieved a return of 1.1 per cent in May 2014, and 12.6 per cent in the first 11 months of the 2013-14 financial year. Director Warren Chant expects super funds to deliver a positive return for the fifth year in 2013-14, with a double-digit return likely for many funds. Shares, bonds and infrastructure are among the asset classes that have performed well in 2013-14

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, SUPERRATINGS PTY LTD