Merger activity in the Australian superannuation industry means the country has 16 funds included in the top 300 global pension funds, according to WTW, including two new entrants this year.
After a seven-month search for a new chief executive, the $40 billion investment corporation owned by the Government of South Australia has announced a new CEO.
ASIC has sued the trustee of AustralianSuper, alleging failures by the fund to address 90,000 multiple member accounts for a decade at a cost to members of $69 million.
Bernard Reilly, chief executive of Australian Retirement Trust, is to depart the fund in February 2024.
While reiterating the measure is a priority and will be assessed from budget to budget, Labor has stopped short of offering a specific time frame on when they might pay super on paid parental leave.
Equip Super’s recent performance represents the strong future of medium-sized funds, says chief executive, Scott Cameron, as the fund sets sights on $50 billion FUM.
Rest has announced a new investment in renewable energy developer and fund manager Octopus Australia.
The $85 billion fund has announced a number of senior appointments, including a new COO, CTO, and deputy CIO, as it works towards delivering a refreshed strategy.
The $14 billion fund has welcomed Carson McNamara as head of strategic partnerships to lead its newly created team of strategic partnership managers.
Parliament has passed the Financial Accountability Regime, a recommendation from the Hayne royal commission, which will impose stronger accountability on super trustees.