Investors, including the group overseeing $1.5 trillion of investments, say the new rules make it easier for the few bad companies who mislead shareholders.
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Australian super fund eyes Europe, U.S. expansion
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Aware Super will grow in coming years to be able to manage up to A$300 billion ($230 billion), a drive that could see Australia s second-largest superannuation fund open offices in Europe and the U.S. in pursuit of more investments overseas.
The A$140 billion fund could double its staff in a range of roles from investments to tax and compliance, said Chief Investment Officer Damian Graham. The firm is trying to lower its cash pile by buying property and infrastructure assets, he said Monday. We want to be prepared so that we ve got the capacity and capabilities internally to be able to manage A$200 or A$300 billion, and that does suggest we will need to be sourcing more of our investments around the world, Mr. Graham said. We would imagine it s a European office and a U.S. office in the next few years, subject to support from the firm s board, he said.
by Steve Newton on January 23rd, 2021 at 12:14 PM 1 of 4 2 of 4
When COVID-19 killed concerts last year, professional musicians who relied heavily on revenue from live shows were put in financial peril. That fact wasn t lost on Vancouver guitar ace Paul Pigat, who normally chocks up plenty of gigs with his bands Cousin Harley, Boxcar Campfire, and the Paul Pigat Trio. There s easier ways to make a living than being a musician, says Pigat on the line from Murfitt Guitars in East Van, and this has made it a lot harder. But honestly I m doin alright, because I ve been productive. I put out the Cousin Harley record, and I m workin on a record with Kevin Breit he s my favourite guitar player in the world, pretty much. And my pastime is building guitars, so I ve built a boatload of guitars. And then I teach as well; I ve been teaching since I was 18. So that s been able to keep me above water.
Super industry warns members ‘will suffer’ under reforms 17 December 2020
Executives across the superannuation sector have warned that the government’s proposed Your Future, Your Super reforms will move the Australian retirement saving system away from global best practice, with costs and systemic risk tipped to rise while long-term returns plummet.
The outlook is outlined in a new report from Willis Towers Watson’s Thinking Ahead Institute, based on interviews with a number of senior investment professionals on the Your Future, Your Super reforms.
Aware Super chief investment officer Damian Graham, AustralianSuper CIO Mark Delaney, Hostplus CIO Sam Sicilia and QIC CIO Jim Christensen were among the individuals consulted for the paper.