Based in London, Mark Hargraves has been tapped by Australia’s largest superannuation fund to lead its $69 billion international equities portfolio and $14 billion private equity portfolio.
The firm has announced it will partner with SuperConcepts, which will take on its platforms business clients of Australian Executor Trustees.
The firm’s new client wellbeing division, expected to be created in the next six months, aims to prioritise pre-retirees via intra-fund advice and proactive engagement, chief executive Renato Mota explained.
Launching in Australia this month, Premialab’s technology has been selected to deliver portfolio management and risk solutions at State Super.
Industry funds have vastly outpaced their retail fund counterparts, gaining $10 billion over the last 12 months.
Unveiling the 2023 Intergenerational Report, Treasurer Jim Chalmers has called the retirement phase of super the government’s next frontier and flagged further consultation to address ‘longevity risk’ in the system.
MLC Life Insurance has thrown its support behind the 10th annual Super Fund of the Year Awards as platinum partner.
AvSuper and Australian Retirement Trust have signed a heads of agreement to proceed with the merger which is now expected to complete in April 2024.
The annual expenditure needed to reach ASFA’s comfortable retirement standard rose again in the June quarter as retirees continue to face significant cost pressures on their budgets.
New research from Aware Super on the occasion of Equal Pay Day reveals Australia’s 13 per cent gender pay gap will equate to a $93,000 deficit in women’s super balances compared to men at retirement.