POWERED BY MOMENTUM MEDIA
Power, influence and the Silken touch
Has AustralianSuper’s chief executive, Ian Silk, retained the services of a spin doctor?
This is the question being asked by Rollover in circumstances where the Moustachioed one has managed to turn up on the front pages of Australia’s two national newspapers as well as in the list of those people deemed to be most influential by the Australian Financial Review.
The silky Silk managed to grab the national newspaper headlines via AustralianSuper’s somewhat pre-emptive announcement that it would be removing automatic life cover for members aged under 25 ahead of anything recommended by either the Productivity Commission or the Insurance Within Superannuation Working Group.
Rollover is less certain about how Silk managed to get on the list of those considered most influential in business (although AustralianSuper does control around $109 billion), but he suspects it is the product of some sections of the Australian media
becoming a little more intimate with power wielded by industry fund chief executives.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
Recommended for you
With rainy weather abound in Sydney, Rollover was sat in front of his TV watching the smorgasbord of niche documentaries free-to-air has to offer.
As a history buff, Rollover is well-aware of the importance of the role the vanguard plays in a military force, as the leader at the front of battle.
Now that crypto investing is mainstream, with Rest Super announcing it will put a portion of its funds into it, Rollover wonders whether his grandkids will think he is hip when he shows them his crypto balance in his new digital wallet.
Rollover is almost as fascinated by superannuation fund mergers as the deputy chair of the Australian Prudential Regulation Authority (APRA), Helen Rowell.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
33.20 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.82 3 y p.a(%)
Considering it has been reported this month that the Union Super Funds collect over $21 million off their "not for profit" fund members [for such activities], the Funds aren't getting a lot of value for money from their lobbying cash-pot.
Add new comment