July
AustralianSuper, Hesta look to supercharge housing investment
The industry super fund giants have taken shared ownership of Assemble, which develops affordable rental and for-sale housing.
- Michael Bleby
Revealed: Which super funds rate the best – and worst – for retirement
Superannuation funds are going backwards in terms of preparing their customers for retirement, new research shows.
- Hannah Wootton
No rate cuts and maybe a rise as inflation sticks, super funds warn
The investment chiefs of the country’s biggest funds also have a bleak outlook for Aussie shares over the next year, after global equities drove double-digit returns in FY23.
- Hannah Wootton
Grow Inc kicks off $60m Series D raise; Hitachi Ventures to anchor
The super admin provider, which caused a stir last year after it nabbed HESTA from rival Link, has tapped Highbury Partners to kick off a $60 million raise.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Nuclear energy
Too uncertain, too slow: funds rule out financing Dutton nuclear plan
The disinterest from superannuation funds comes despite appetite for other energy transition assets and a shortage of domestic investment opportunities.
- Hannah Wootton
HESTA returns 9.1pc, looks for domestic opportunities
Soaring global equity markets drove the industry super fund’s high returns, but its investment team believes local markets will be more fairly valued going forward.
- Hannah Wootton
June
HESTA cuts $250m cheque for Stafford Capital Partners’ PE unit
Stafford flies under the radar, but is a port of call for local private equity firms looking to secure superannuation funds as co-investors on new deals.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Funding
Super funds, CSL pour $270m into venture capital fund
Australia’s largest life science investment fund, Brandon Capital, has banked $270 million of a planned $350 million raise for its sixth VC fund.
- Updated
- Tess Bennett
May
Cap big super at 10pc of ASX companies: senator
The $3.6 trillion superannuation industry’s market power means it has the capacity to “squash retail investors like bugs” – and that shouldn’t be allowed, Andrew Bragg says.
- Hannah Wootton
April
Big super splits on performance test reforms
Labor announced it was reviewing the test after several funds said the current rules stopped them investing in the “nation building” initiatives the government wanted them to bankroll.
- Hannah Wootton
- Exclusive
- Energy
HESTA sides with Woodside on Goyder’s future
But the outspoken superannuation fund, which has criticised the company for not doing enough on emissions reduction, will vote against its climate strategy.
- Kylar Loussikian
The advice that helped land HESTA CEO Debby Blakey the top job
HESTA chief Debby Blakey talks about how maths helps her to make decisions, how a key piece of advice from a mentor helped her land the top job, and why she likes 42-minute meetings.
- Updated
- Sally Patten and Lap Phan
Super funds nominating directors to boards ‘unwise’
Super funds that nominate a director to a company board may fail to change the organisation’s strategy and could lose flexibility to manage their investment, leading chairmen warn.
- Sally Patten
March
Super funds’ director picks may be conflicted: Chronican
The warning comes as AustralianSuper CEO Paul Schroder says his fund is reserving its right to put a director on Origin’s board, and as the funds train up cohorts of future directors.
- Updated
- Hannah Wootton
‘Never say never’: $150b super giant not pushing for board seats, yet
Aware Super boss Deanne Stewart says she prefers ‘private conversations’ with companies to encourage action on issues such as climate change, but did not rule out stronger interventions.
- Hannah Wootton and Gus McCubbing
- Exclusive
- Business Summit
HESTA pushes for climate-friendly directors at Woodside
The industry super giant is the first to move on what Paul Keating says will be a trend of funds using market power to seek influence on issues like energy transition.
- Sally Patten and Patrick Durkin
Coalition demands means-testing on parental leave super payments
The opposition says workers with big super retirement savings balances should not get superannuation top-ups paid for by taxpayers.
- Hannah Wootton and Tom McIlroy
‘Absolutely nonsense’: Super funds slam investment banker pay gaps
Investment banks claim it will take a long time to fix mammoth gender pay gaps, blaming systemic factors, but super funds show it can be done quickly, CEOs say.
- Hannah Wootton
February
- Exclusive
- Funding
The Gold Coast’s answer to SpaceX is now worth $605m
Gold Coast-based rocket company Gilmour Space has closed a $55m funding round, which will give it enough cash to make its first four launch attempts.
- Tess Bennett
Super fees are not coming down like they were supposed to
The running costs of Australia’s biggest industry super funds have not gone down despite their promises that greater scale would drive down expenses.
- Hannah Wootton
