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Superannuation

PC to review how defaults appointed to Awards

ALEX DUNNIN  |  FRIDAY, 10 JUN 2011
The Productivity Commission will in 2012 review how default funds are appointed to Industrial Awards, said superannuation minister Bill Shorten, just one day after APRA released figures showing that the retail sector has again under performed the not-for-profit ...

LGS sees benefits in clean energy co-operation

MATT WOODINGTON  |  THURSDAY, 9 JUN 2011
The Government's proposals to reduce the risk of investing in clean energy and technology projects would be a welcome development given the current lack of viable opportunities in Australia.

MTAA Super strikes back against claims of unhedging

ALEX DUNNIN  |  THURSDAY, 9 JUN 2011
MTAA Super has rejected claims it lost $500 million in currency transactions in 2009 and dismissed claims it was unhedged during the depths of the GFC.

State Street secures REST lending deal

MATT WOODINGTON  |  WEDNESDAY, 8 JUN 2011
REST Industry Super has appointed State Street Corporation as its global securities lending agent, building on their relationship established earlier this year.

Plum lands $300m Lend Lease super mandate

ELISE BURGESS  |  WEDNESDAY, 8 JUN 2011
Plum Financial Services has secured management of property group Lend Lease Corporation's $300 million superannuation fund, which will move from its own fund management to Plum's master trust.

Shorten ups Trio super levy to $750,000

ELISE BURGESS  |  WEDNESDAY, 8 JUN 2011
APRA regulated superannuation funds will pay a maximum $750,000 under the compensation levy being introduced to recoup the lost $55 million for the victims of failed investment firm, Trio Capital.

Sunsuper awards $700m mandate

MATT WOODINGTON  |  FRIDAY, 3 JUN 2011
Sunsuper has undergone a slight re-weighting of its Australian Equities portfolio, handing a new $700 million mandate to Vinva Investment Management.

Plum has members in its sights with new appointment

RACHEL DAVIS  |  FRIDAY, 3 JUN 2011
Tony Stewart has been appointed Head of Member Services for Plum and the MLC Group's Corporate and Institutional Wealth division.

AMP targets lost super to attract members

ELISE BURGESS  |  THURSDAY, 2 JUN 2011
AMP is targeting super consolidation to rein in $1.1 billion of lost super fees while building bridges between AMP planners and super.

Software speeds up SMSF creation

ALISON BEVEGE  |  WEDNESDAY, 1 JUN 2011
Financial advisers and accountants can set up new self-managed super funds in under ten minutes with SMSF software which allows trustees to invest in anything from shares to bull semen.