Post on 17-Jul-2015
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QMV ESG RISK MANAGEMENT
Local Government Super fund
has regained the top place in
the Asset Owners Disclosure
Project global index, which
rates the world’s largest asset
owners (pension funds,
insurance funds, sovereign
funds, foundations and
endowments) climate change
risk management. 13 Australian
funds received the lowest
possible rating, including the
Future Fund, REST, Telstra Super
and Super SA.
Source: Climate Institute
REPORTING STANDARDS
The Australian Prudential
Regulation Authority (APRA) has
finalised 26 Superannuation
Reporting Standards (SRS), and
five SRSs for consultation. APRA
has also extended the transition
relief for lodgement of quarterly
returns for a further two years,
allowing quarterly returns to be
submitted within 35 (rather than
28) calendar days after the end
of the reporting period.
Source: APRA
AGED PENSION
The Council of the Aging of
Australia (COTA) has released a
statement calling for proposed
changes to the indexation of
the aged pension to be
abandoned.
Source: COTA
FINANCIAL ADVICE
Assistant Treasurer Josh
Frydenberg hosted a
roundtable with industry bodies,
consumer groups, respected
academics, and the ASIC
Chairman. The meeting
discussed the bipartisan model
proposed by the Parliamentary
Joint Committee on
Corporations and Financial
Services (PJC), to lift the
professional, ethical and
education standards of
financial advisers, and
emphasised the importance of
sensible transitional
mechanisms, robust
governance, sustainable
funding, and achieving
enduring reform.
Source: APRA
INVESTMENTS
AustralianSuper and land
developer AVJennings
Properties Wollert SPV have
entered into an unincorporated
joint venture to develop 2,000
lots in Wollert, Victoria. The
project aims to develop land
and integrated housing, with a
master plan including a town
centre, and community
recreational spaces to cater for
4,500 to 5,000 people.
Source: AV Jennings
SUSTAINABILITY DISCLOSURE
The Australian Council of
Superannuation Investors'
(ACSI) annual review of
sustainability disclosure found
that despite an improvement
from last year, 40 per cent of
companies still did not
adequately explain
sustainability risks relevant to
them and its industry, and how
they are managing them.
Source: ACSI
APPOINTMENTS
First Super has added a second
independent director to its
board, with former Victorian
government minister Candy
Broad being appointed to the
Board of twelve directors. Broad
is also a director of Women's
Health Victoria and the
Hepburn Community Wind
Farm.
Source: Financial Standard
RESEARCH & ANALYSIS
SuperRatings has released a
report which highlights that fees
are not necessarily an
appropriate measure by which
to judge superannuation funds.
Measuring the ‘net benefit’,
entailing investment returns less
all fees and taxes is suggested
as having a better basis for
comparison of performance.
Source: SuperReview
SuperBrief Independent & Concise
Issue #17 of 2015: Friday, 1st May