Australians overwhelmingly support superannuation but want more transparency

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FSC-ING DIRECT Report: Superannuation − Australia’s View Australians overwhelmingly support superannuation with a clear majority backing a rise in compulsory contributions to 12 per cent according to a report, Superannuation – Australia’s view, released today by the Financial Services Council and ING DIRECT. The FSC-ING DIRECT report has found that 89% of respondents in a... Read more continue reading

Weak quarter for superannuation contributions

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The June 2013 quarter defied the seasonal pattern of strong superannuation contributions at the end of financial year, instead recording one of the weakest quarters for contributions since the global financial crisis, according to the Financial Services Council’s Bond Report, released today. FSC chief economist, James Bond said: “Superannuation contributions at the end of the... Read more continue reading

Superannuation funds and institutional investors face headwinds despite market rally

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With cash returns failing to match inflation in many countries and investors looking for alternative ways to boost returns, institutions continue to face a challenging economic climate despite equity markets rallying this year. Against this backdrop investors are being forced to take greater risks in higher volatility and low liquidity investments to achieve target returns... Read more continue reading

Aon Master Trust receives MySuper authorisation

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The Aon Master Trust has received its MySuper authorisation from the Australian Prudential Regulation Authority. On 1 January 2014, the Aon Master Trust will launch Aon MySuper. Pierre Kraft, Managing Director, Aon Hewitt Wealth Management commented on the authorisation: “This is an important announcement for the Aon Master Trust. It provides confidence to our members,... Read more continue reading

Bendigo Wealth granted a MySuper authorisation

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Sandhurst Trustees, which forms part of Bendigo Wealth, has been granted authorisation by the Australian Prudential Regulation Authority (APRA) to issue a MySuper product under the new regime implemented by the Australian Government. From 1 January 2014, if a person has not chosen a super fund, their employer must pay their compulsory superannuation into a... Read more continue reading

AMP MySuper offers approved by APRA

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AMP will launch its two MySuper offers from 1 January 2014, following approval from the Australian Prudential Regulatory Authority. AMP Financial Services will draw on the investment expertise of AMP Capital to offer two My Super investment options; a lifecycle option and a balanced diversified option. The AMP Lifecycle option, which will be available to... Read more continue reading

AMP Capital acquires Sacramento office tower

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AMP Capital Global Direct Property Fund has purchased a CBD office tower in Sacramento, California for US$29.4 million. The Fund has been an active buyer and seller of US real estate this year as AMP Capital focuses on top tier secondary markets poised for growth that are only just beginning to attract significant capital flows.... Read more continue reading

BT Financial Group receives MySuper approvals for actively-managed lifestage funds

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BT Financial Group has received approval from the Australian Prudential Regulatory Authority for its MySuper licences and will launch actively-managed lifestage funds as its MySuper solution. A lifestage fund means that the asset allocation automatically changes to be more conservative as a person nears retirement age. BT Financial Group, one of Australia’s largest providers of... Read more continue reading

Coalition’s financial services policies will deliver certainty and stability to the financial services industry

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The Coalition’s financial services policies will deliver certainty and stability to Australian retirees that their superannuation will not be tinkered with, Greg Cooper, chairman of the Financial Services council and CEO of Schroders Australia said today. Speaking at the FSC’s Annual Conference, Mr Cooper said: “As the second biggest financial asset for most Australians after... Read more continue reading

Rice Warner implements retirement savings equity

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Consulting firm Rice Warner has adopted an innovative approach to bridging the retirement savings gap for its female employees. The initiative addresses a fundamental gender imbalance that affects the retirement incomes of a majority of Australian female employees. Rice Warner today released details of what is believed to be a first for an Australian business... Read more continue reading