There are concerns investment approaches like screening and impact investing could result in tracking errors that inadvertently put sustainable and ethical funds on the back foot in the YFYS performance test.
David Bluff, a former partner and managing director of The Carlyle Group, is set to lead private equity at Future Fund.
Indexing the $3 million threshold and using actual earnings to calculate tax are among suggestions from associations to the Treasury super concession consultation, described as a “tax grab” in its current state.
New analysis has found the 15 largest funds are collectively investing at least $25 billion into opening new coal, oil, and gas projects despite commitments to tackling climate change.
The $115 billion super fund has appointed specialist asset manager, Revolution Asset Management, to oversee its private debt portfolio in Australia and New Zealand.
The first quarter wrapped up 9 per cent higher on financial product registrations than the five-year rolling average for the same period, with superannuation products leading the charge.
According to this senior adviser, APRA’s ‘politicisation of regulation’ has led to issues with the YFYS test.
If safe harbour provisions are removed, the existing ‘best interests duty’ could ensure super fund members are not taken advantage of, according to the Australian Institute of Superannuation Trustees.
Minister for Financial Services, Stephen Jones, has confirmed he expects the Your Future, Your Super performance test to be extended by 800 funds from August.
ASIC had banned Gold Coast-based director Darren Thomas Edden-Brown for eight years for promoting and helping consumers access their superannuation early to buy a home or pay personal debts.