Page 6 - First State Super News Today

It is Canva’s largest backer, but the venture capital fund has backed a host of Aussie start-up successes and has revealed it has turned $1.3b into far more.

With dozens of mergers having already taken place, the industry is starting to find it has a refined, formulaic process for consolidation.

Aware Super has slashed its emissions and is piling money into renewable energy, with the fund saying clarity on climate policy was key for the super sector.

ASIC is investigating whether executives from 23 super funds moved their money out of unlisted asset options before they were revalued lower by the fund.

Former First State Super CEO appointed chair of Bennelong boards  — 1 minute read 19 July 2021 Michael Dwyer AM has been confirmed as chair of the boards of Bennelong Funds Management Group (BFMG) and its subsidiary, Bennelong Funds Management Limited. Michael Dwyer AM, who joined the Bennelong boards as non-executive director in December last year, will take over from Stephen Rix who has served as chair since 2016. Mr Dwyer has over 30 years’ experience...

Dwyer had over 30 years of experience in the financial services industry, including as chief executive officer of First State Super between 2004 and 2018. He was made a member of the Order of Australia in 2011 for service to the superannuation industry through leadership and executive roles, and to the community as a director of Australia for the United Nations High Commissioner for Refugees (UNHCR). Dwyer held a number of other directorships, including chair of NSW TCorp, director of Iress, an...

The House economics committee has further questioned the prudential regulator around the legality of an industry super fund allegedly using member funds to pay off remediation costs as a result of fee

Roc wins time as Vitalharvest vote delayed to June Save Share Roc Partners has won itself more time to lift its offer for Costa fruit orchard landlord Vitalharvest, after a meeting to vote on Macquarie’s latest revised offer for the trust was postponed until early June. A unitholder meeting to vote on Macquarie’s previously recommended takeover offer of $1.26 per unit or $348.1 million to purchase all the trust’s assets was meant to take place on Wednesday at 2pm. This was before...

“We have conducted internal actuarial analysis of the retirement outcomes for home-owning versus non-homeowning retirees and referenced the different outcomes in our submission to the Retirement Income Review,” it said. “For this we used data about our members’ balances compared with the Association of Superannuation Funds of Australia (ASFA) Comfortable Standard for homeowners and non-homeowners.  “These models are regularly updated.”  “We conducted focus group surveys of membe...

Shrinking superannuation numbers hit by COVID and consolidation Money by Anthony Keane Premium Content Subscriber only Seven out of 10 superannuation funds suffered a fall in member numbers last financial year, impacted by the COVID early release scheme and other government changes. But the super sectors biggest funds - including AustralianSuper, Aware Super and Hostplus - went from strength to strength, according to data from financial regulator APRA. Bi...