May 2024
27May

Australian pension funds eye niche private debt to boost returns

AUSTRALIA’S pension giants are looking to expand their private credit exposure to some nascent products, as the cash-flushed industry hunts for ways to diversify portfolios and boost returns. AMP, one of Australia’s largest pension providers, has launched a new A$300 million (S$268 million) alternative debt fund to invest in credit risk transfer, a relatively new corner of the private market. Aware Super, which manages A$175 billion of assets, is also studying the market of niche products for investment potential. The nation’s...

May 27, 2024
News,
Read more...
24May

Most Australians still relying on government pension on retirement

A government pension or allowance was still the main source of personal income at retirement according to the latest statistics from the Australia Bureau of Statistics. Forty-three per cent of retirees relied on a government pension, with 27 per cent relying on superannuation, an annuity or private pension. Bjorn Jarvis, ABS head of labour statistics, said over the past decade the number of people who said they had no personal income has fallen from 25 per cent in 2012-13 down to...

May 24, 2024
News,
Read more...
15May

Google borra accidentalmente cuenta de fondo de pensiones de 125 mil millones de dólares

En un incidente sorprendente, Google ha cometido un error que resultó en la eliminación accidental de la cuenta privada de Google Cloud de UniSuper, un fondo de pensiones australiano que maneja un colosal fondo de 125 mil millones de dólares. El error dejó a más de medio millón de miembros del fondo UniSuper sin acceso a sus cuentas durante aproximadamente una semana, según lo informado por The Guardian. Afortunadamente, UniSuper contaba con una cuenta de respaldo con otro proveedor de servicios...

May 15, 2024
Noticias,
Read more...
15May

Google Cloud Accidentally Deletes Australian Superannuation Fund’s Data

The Australian superannuation fund UniSuper had its private cloud data deleted accidentally earlier this month, disrupting the fund’s services for the past couple of weeks. A configuration problem caused Google Cloud to delete UniSuper’s account. UniSuper, which has AUD 125 billion ($82.73 billion) in assets serving more than 615,000 beneficiaries, is working with Google Cloud to restore and backup the fund’s data. UniSuper said in a statement that it had backups of its data with a separate provider. UniSuper’s systems...

May 15, 2024
News,
Read more...

April 2024
22Apr

Australian pension majors line up against Woodside ahead of AGM climate vote

Two of Australia's largest pension funds said on Monday they are voting against Woodside Energy's climate plan, ahead of its annual meeting on Wednesday, where the company's chairman is facing rare opposition from major investors. Aware Super, which manages A$170 billion ($109 billion) has voted against Woodside's climate transition action plan and the re-election of chair Richard Goyder to signal its displeasure over the company's efforts to cut emissions, according to a statement on Monday. “This decision has not been taken...

April 22, 2024
News,
Read more...

March 2024
27Mar

Australia. New Law Boosts Affordable, Accessible Financial Advice

Today, the Albanese Government has introduced the first tranche of legislation to deliver its comprehensive package of reforms to ensure Australians have access to quality and affordable financial advice. There are over five million Australians at or approaching retirement who need assistance to navigate the pension and superannuation systems. Unfortunately, the average cost of financial advice puts professional advice out of reach for many Australians. The Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024 implements reforms which...

March 27, 2024
News, ,
Read more...

January 2024
31Jan

Australia regulator scrutinises pension funds over unlisted asset pricing

Australia's prudential regulator said on Wednesday it will review how sections of the A$2.5 trillion ($1.7 trillion) pension fund sector value unlisted assets and that it is already working with several funds whose practices need to improve. As part of its supervision priorities for the next six months, the Australian Prudential Regulation Authority said it will conduct a "deep dive review" into valuation practices at a number of large and mid-sized pension funds. The unnamed funds have material holdings of unlisted...

January 31, 2024
News, ,
Read more...

December 2023
01Dec

Australia pension funds call for reforms to encourage green energy investment at home

Australian pension funds called on Friday for the government to enact reforms that would make it easier to invest in domestic renewable energy projects and warned that without action investors would opt for more compelling overseas projects. Australia's electricity transmission network, batteries and sustainable aviation fuel are three areas where simplified planning, subsidised finance and other regulatory changes could catalyse investment, according to a report released by eight major pension funds. Changes could quickly unlock A$4 billion ($2.7 billion) worth of...

December 1, 2023
News, , ,
Read more...

November 2023
27Nov

Australian pension fund makes £5.25bn commitment to UK

Calls for UK pension schemes to invest more in the economy have been renewed following the news that Australian pension fund, Aware Super, is looking to direct a A$10bn (£5.25bn) investment commitment in the UK and Europe. Announcing the investment at the Global Investment Summit, Aware Super said that it has plans to expand its assets under management, with international expansion into the UK a key strategy aimed at achieving that goal. The fund, which officially opened its first international office...

November 27, 2023
News, ,
Read more...

October 2023
18Oct

Australia pension fund plans up to $1.3 bln in clean energy investment

Australia's third-largest pension fund expects to invest up to A$2 billion ($1.3 billion) in a venture specialising in smaller-scale solar and battery installations as the country overhauls its electricity network to produce clean energy. Aware Super, which manages A$160 billion, announced on Wednesday a A$300 million partnership with Birdwood Energy to finance distributed renewable energy projects, and expects its investment to grow to up to A$2 billion as more projects become ready for financing. The partnership's planned investments in smaller-scale projects,...

October 18, 2023
News, , ,
Read more...