Daniel Kemp
Controversial Your Future, Your Super changes will remove an exemption to asset disclosure that has allowed superfunds to avoid revealing the value of some unlisted assets.
The roadmap makes 37 recommendations for participants in the financial system that will help achieve net-zero emissions by 2050 and go further than government policy.
A change in the rules allowed members to withdraw almost A$16bn from their accounts in the wake of covid-19. Is the sector able to absorb the shock?
Estimates suggest that as much as A$50bn could be withdrawn from superannuation funds.
All foreign transactions will be subject to FIRB review, a process that will now take six months instead of 30 days.
Managers should get ready for internationalisation, downward pressure on fees and bigger private capital allocations, should the current wave of mergers come to pass.
The asset manager has pulled plans for either a private sale or IPO for an Australia-based coal export terminal amid travel restrictions and market volatility.
The combined entity would have more than A$180bn of AUM and be larger than the country’s current largest fund, AustralianSuper.
Peter Costello says partnerships with local investors and greater transparency on the part of sovereign funds is the way forward.
Heavyweight Australian investors back a new workplace diversity initiative as LPs admit the issue is a factor in their investment decision-making.
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