How the new “objective of superannuation” legislation will change funds

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The superannuation system is now set to have a clear legislative purpose– and it is one which raises a raft of new questions. Almost 25 years after the government introduced mandatory super, it has defined its primary objective: “to provide income in retirement to substitute or supplement the Age Pension.” This gives far greater prominence […]

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Objectives-based advice: revolution or fad?

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It may come as a surprise to investors that financial advice has historically tended to have little relationship to their goals. Rather, it has had much more to do with how comfortable an investor is with a particular product. The outcome has been unfulfilled expectations for investors and damaged the financial planning industry’s reputation. But […]

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Building better default retirement products

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The financial services industry can learn an important lesson from the surprise Brexit vote, according to Milliman Australian practice leader Wade Matterson. The British public’s decision to leave the European Union on June 23 came despite a weight of factual evidence warning of dire economic consequences, sending another wave of volatility through global markets. “Why […]

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Milliman hires key Superannuation industry executive

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Milliman, the global actuarial consulting firm and leading provider of risk management and retirement  services, yesterday announced the appointment of a key industry superannuation executive, responding to increasing demand for member-focused solutions from industry superannuation funds. The appointment of Kevin Moloney, a superannuation and wealth management professional with 20 years of experience, as Head of Consulting […]

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Milliman launches innovative Retirement Enhancement Trust in Australia

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Milliman, a global actuarial consulting firm and leading provider of financial risk management services for retirement products, is pleased to announce a new offering for the Australian retirement market. Milliman’s Retirement Enhancement TrustTM is a novel retirement solution that has many advantages over other products currently available to retirees. “We are excited about the Retirement […]

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Kenneth P. Mungan elected as Milliman’s Chairman of the Board

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Milliman, one of the premier global consulting and actuarial firms, yesterday announced the election of Kenneth P. Mungan as Chairman of the Board. Milliman’s board of directors made the announcement, acting to confirm the results of a vote by the privately held firm’s principals. Ken Mungan founded Milliman’s Financial Risk Management practice in 1998. That group […]

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Milliman helps clients meet investment challenges of retirees with Managed Risk Strategy

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Retail and institutional funds embrace new risk management strategy Maritime Super, Plato Investment Management and BetaShares have this year employed Milliman’s Managed Risk Strategy (MMRS), which stabilizes investment volatility and reduces the impact of major market declines by dynamically managing market exposure using derivatives. The potential to hold onto the returns of growth assets while […]

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Milliman helps clients meet investment challenges of retirees

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The Risk Tolerance Paradox, and what you can do about it With a growing trend both globally and in Australia around low volatility, managed volatility, and portfolio risk management strategies, it is imperative that advisors and research consultants explore each strategy to uncover how different risks are being addressed. Identifying those techniques that are robust […]

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