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SUPERANNUATION
Supers must step up governance post-Cooper Review
Global Pensions | 02 Sep 2010
AUSTRALIA - Superannuation funds will have to pay closer attention to their decision-making process and board composition in the wake of the Cooper Review recommendations, Russell Investments warns.
Australia's growth super returns 2.2% in July
AUSTRALIA - Australia's median growth superannuation fund returned 2.2% in July on the back strong equity performance over the month.
New Zealand Super boosts global equity allocation
NEW ZEALAND - The New Zealand Superannuation Fund increased its global equities exposure from 45.1% to 63.1% over the month to July 31 and reported pre-tax returns of 4.76%.
OTHER SUPERANNUATION ARTICLES
Super industry attacks Australia's coalition party
AUSTRALIA - Australia’s Superannuation industry has criticised Tony Abbott’s coalition party for failing to release a substantive pensions policy just hours before the General Election.
Cooper recommendations will save Australian supers A$20bn
AUSTRALIA - Superannuation funds will save A$20bn ($18bn) over the next decade if the Cooper review's SuperStream proposal is implemented, according to research by the Financial Services Council (FSC) and Ernst & Young.
New Zealand plans study of compulsory savings options
NEW ZEALAND - New Zealand’s government is setting up a working group to study the merits of compulsory pension savings which could be debated at next year’s election, Prime Minister John Key said.
Australian supers already holding risk reserves
AUSTRALIA - A growing number of superannuation funds are already well-placed to deal with the introduction of legislation concerning operational risk reserves, research by Mercer shows.
ISPT to create A$200m residential fund by end of 2010
AUSTRALIA - Industry Superannuation Property Trust, an Australian direct property investment manager owned by pension funds, plans to create a fund focusing on residential investments by the end of the year.
LGS hands Impax A$50m mandate
AUSTRALIA - The Local Government Super (LGS) has awarded specialist environmental investment firm Impax Asset Management Group an A$50M ($46m) segregated mandate.
Australia's Labor Party to implement default super if re-elected
AUSTRALIA - Prime Minister Julia Gillard said a re-elected Labor government will allow Australia's pension industry to offer a new standardised fund recommended by a government-commissioned review.
ESI Super awards five mandates for Australian equities
AUSTRALIA - Energy industry superannuation fund ESI Super has split its A$800m ($718m) Australian equities portfolio between five managers.
Australian employers concerned over pension increases
AUSTRALIA - Businesses are growing increasingly concerned that they will be forced to fund another A$23bn (US$20.5bn) in compulsory superannuation payments.
Australian Super funds return 4.5% pa over decade
AUSTRALIA - Australia’s biggest Super funds have returned an average of just 4.5% a year over the past decade as a result of the global credit crisis, figures reveal.
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