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AustralianSuper advice play bodes well for DBFO resurrection

AustralianSuper advice play bodes well for DBFO resurrection

The nation’s largest superannuation fund has heeded the call of regulators to lift its risk appetite and embark on personal financial advice to members. Even with the counsel of top lawyer Michelle Levy, the megafund will find it challenging to navigate the complex advice laws as they stand, but its bullishness is likely a positive sign for the future of advice reform.

The real warning in the Future Fund’s new AI prediction

The real warning in the Future Fund’s new AI prediction

The Future Fund’s new position paper is useful for anybody trying to imagine the possible futures of our increasingly wild present, but it is the AI threats that are already emerging that investors should spend their limited attention budget on.

Future Fund: AI world order defined by US-China split will hurt capital owners

Future Fund: AI world order defined by US-China split will hurt capital owners

A geostrategic standoff between the US and China over AI would be “extremely damaging for capital owners” according to the $337 billion Future Fund, which outlined four “secular scenarios” around AI and its investment implications in its latest position paper.

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Leadership
Rest Super’s selective approach to PE pays off as program comes of age

Rest Super’s selective approach to PE pays off as program comes of age

Rest Super has built its private equity program around a deliberately selective approach to manager and deal selection, favouring a concentrated roster of external partners and proactively seeking out top PE firms rather than waiting for them to come knocking. Head of private markets Marina Pasika unpacks the program’s coming of age and what powered an asset class return more than double the peer average in the last financial year.

Profiles
GESB CEO calls time: ‘Past regime of default super’ no longer sustainable

GESB CEO calls time: ‘Past regime of default super’ no longer sustainable

GESB chief executive Ben Palmer is set to leave the Western Australian government super fund, ending a 13-year tenure after steering the fund through the most significant change in its history. In a rare interview, Palmer examines the past, present and future of super and explains why GESB is treating platforms, not profit-to-member funds, as its benchmark.

Why HESTA’s ‘joined-up thinking’ is one of its CIO’s favourite things

Why HESTA’s ‘joined-up thinking’ is one of its CIO’s favourite things

Sonya Sawtell-Rickson joined HESTA as the health industry workers’ super fund was taking steps towards investment internalisation and a total portfolio approach. She says the moves have been vindicated not only by member returns but in the “joined-up” conversations the now-$96 billion fund has with the companies it invests in.

Governance
CGT, negative gearing reforms reflect Australian values

CGT, negative gearing reforms reflect Australian values

Labor has built a generational political brand, and one that endures in the face of some major challenges here and abroad, Conexus Financial founder and managing director Colin Tate told the 50th ALP National Conference in Adelaide. But it must push back against extreme demands on AI and technology if it is to boost productivity and seize a huge economic growth opportunity.

Super complaints expected to reach 8000 in 2026: AFCA 

Super complaints expected to reach 8000 in 2026: AFCA 

Superannuation complaints to AFCA are on track to exceed 8000 this year, a second consecutive year of around 30 per cent increases. Heather Gray, who is retiring in May after six years as lead ombudsman for superannuation, told the authority’s Member Forum that the answer to reducing complaints lies in empowering funds’ IDR teams and communicating with complainants and AFCA early. The forum heard that handling unreasonable people is a critical skill.

Industry and regulation
Investments
CFS CIO warns on AI ecosystem’s tangled capital web

CFS CIO warns on AI ecosystem’s tangled capital web

The scale of the financial web that binds the corporate AI ecosystem together has never been seen before in markets, and investors have little understanding of how and where it could break in the event of a serious repricing, according to Colonial First State chief investment officer Jonathan Armitage.

Why UniSuper’s John Pearce thinks the data centre party is winding down 

Why UniSuper’s John Pearce thinks the data centre party is winding down 

The demand for AI driving data centre construction might be “insatiable”, but the chief investment officer of the $166 billion UniSuper thinks that investors could be taking on technology debt and misreading the regulatory tea leaves as they rush to buy digital infrastructure.