The current debate over superannuation fund governance will be reignited in Melbourne next week at an event being hosted by the Australian Institute of Superannuation Trustees (AIST).
The event will see a panel of key players discuss the governance issue, including former Cooper Review chairman and Challenger executive Jeremy Cooper, leading barrister Noel Davis, investment consultant Chris Cuffe, Melbourne QC and chair of TWU Super David Galbally, the chair of AGEST Linda Rubinstein, and AIST chief executive Fiona Reynolds.
Cooper's view on the governance issue is expected to be particularly important to the debate in circumstances where he made a personal submission to the Productivity Commission review into default funds under modern awards.
In that submission Cooper said it remained his view "that the super industry would benefit from an increased participation by talented business people not directly connected to super, but with relevant skills".
AIST has been critical of elements of the governance formula developed by the Financial Services Council.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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