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Superannuation

SMSFs breach asset rules

MICHELLE BALTAZAR  |  THURSDAY, 26 FEB 2009
More than half of all SMSF fund breaches last year were due to the fund breaking their "in-house asset" rules, according to a new study, with some trustees effectively using their super fund as their personal cheque account.

Super and pensions under attack

ALEX DUNNIN  |  THURSDAY, 26 FEB 2009
It's still open season on Australia's retirement savings system as two more reports have been released attacking the social inequity of superannuation and age pension rules.

Health Super gives aid to fire victims

RUTH LIEW  |  THURSDAY, 26 FEB 2009
Health Super is helping bushfire victims by donating their call centre staff services, giving blood, and offering essentials to aid those in need.

UniSuper names NAB custodian

COMPANY RELEASE  |  WEDNESDAY, 25 FEB 2009
The $21 billion industry superannuation fund, UniSuper has reappointed NAB Custodian Services (NCS) to provide master custody and investment reporting services.

Sovereign funds lose out after bank bail-out

MICHELLE BALTAZAR  |  TUESDAY, 24 FEB 2009
The US government's move to potentially have direct share ownership in the banks bailed out during last year's crisis could dilute the returns of sovereign wealth funds and pensions funds that hold stake in US finance stocks.

REST ramps up credit exposure

MICHAEL HOBBS  |  TUESDAY, 24 FEB 2009
Retail Employees Superannuation Trust (REST) extended the fund's credit exposure by investing $150 million in the Credit Suisse Syndicated Loan fund and $100 million Stone Tower's Offshore Credit fund in December.

Spec Super goes public

MICHAEL HOBBS  |  TUESDAY, 24 FEB 2009
Superannuation Plan for Electrical Contractors (Spec Super) has transitioned to a public offer fund, broadening its membership base in the electrical industry.

Westscheme spends cash

RUTH LIEW  |  TUESDAY, 24 FEB 2009
The $2.4 billion industry fund Westscheme is bucking the trend of super funds going overweight in cash and is rebalancing its portfolio weekly across all asset classes.

Infrastructure wins pension funds votes

RUTH LIEW  |  TUESDAY, 24 FEB 2009
Australian industry superannuation funds might be at the vanguard of unlisted infrastructure investing - but they could soon face stiff competition from their international rivals.

Alaska fund drops alternatives mandates

RUTH LIEW  |  MONDAY, 23 FEB 2009
The $43 billion Alaska Permanent Fund Corporation has axed two alternative investment mandates in light of the fund's shrinking assets.