Brighter Super News Today

State Street has been chosen as custodian and administrator of a $30 billion super fund.

The number of investment managers winning institutional mandates has tanked 54% in less than two years as superannuation funds ramp up the in-house management of assets, Rainmaker Information research reveals.

Brighter Super will invest a further $500 million to build Queensland and is looking for the right fund manager partners to make it happen.

Brighter Super is shuttering both of its responsible investment options, saying it is in the best interests of members. It comes as the fund streamlines its investment menu to offer just one set of options.

Reforms underway to expand financial advice will have positive ramifications for the SMSF and APRA-regulated sectors as it will ultimately uplift outcomes in the retirement phase for all Australians, industry experts say.

Mercer, AustralianSuper, Hostplus, UniSuper, and Brighter Super recorded the largest growth in member numbers, according to new analysis from Perple - People Performance, underscored by mergers and stiff competition.

The recent focus on what retirement means to the superannuation industry has raised concerns about whether the SMSF sector needs to be more “open minded” when it comes to regulatory intervention.

Next week, self-managed super fund professionals can leverage what APRA-regulated funds are excelling in as well as learn about critical issues affecting the sector from a suite of experts, according to the SMSF Association (SMSFA).

Several major superannuation funds such as UniSuper, Aware Super, and Equip Super continue to invest in global weapons companies despite growing concerns among members, particularly as the Israel-Hamas war escalates.

Superannuation - Finance and investment news for Australian investors, their advisers and the financial services industry.