Indepedent and concise superannuation news from QMV Super Solutions.

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CUSTODIAL SERVICES
National Australia Bank Asset
Servicing (NAS) and CareSuper
have renewed their $10 billion
custodial services partnership
following a tender process. NAS
remains the largest custodian in
the Australian market with $692
billion in assets under custody,
despite several high profile
Australian customers recently
changing custodian.
Source: Financial Standard
GREEN BONDS
ANZ has released a statement
concerning the use of a green
bond – certified by the Climate
Bonds Initiative (CBI) – to
finance existing ANZ loans that
develop low carbon industries,
technologies and practices. The
portfolio includes loans to wind,
power and solar projects, as
well as Green Star-rated
commercial property in
Australia, NZ and Asia.
Source: Financial Standard
NUMBERS & STATISTICS
The Australian Bureau of
Statistics (ABS) has released
Australian managed fund
statistics. As at 31 March 2015,
there was $2,618.7b funds
under management, an
increase of $114.2b (5%) on the
December quarter 2014 figure
of $2,504.5b.
Source: ABS
APRA FUND DATA
The Australian Prudential
Regulation Authority (APRA)
released a discussion paper on
proposed changes to its annual
superannuation statistical
publications and confidentiality
of superannuation data. APRA
previously consulted on
enhancements to its quarterly
superannuation statistics and
now publishes aggregate
financial performance, financial
position and asset allocation
information in the Quarterly
Superannuation Performance
publication.
Source: APRA
ADMINISTRATION
Superannuation administration
service provider Mercer and
Bravura Solutions has
announced a partnership to
commit to using Sonata,
Bravura’s wealth management
platform to underpin a major
transformation program in its
benefits administration division.
Mercer will use Sonata to
administer superannuation and
KiwiSaver business for clients
across both Australia and New
Zealand.
Source: Bravura Solutions
FOFA COMPLIANCE
The Future of Financial Advice
(FoFA) reforms have been
identified as one of the 20 most
challenging pieces of
regulation globally, according
to a survey by Thomson Reuters
of 600 compliance professionals
across the world. FoFA was
listed alongside changes such
as the Basel III capital rules and
the US Dodd-Frank Act, a major
regulatory reform following the
GFC that has often been
compared to FoFA.
Source: Thomson Reuters
SUPERSTREAM
The ATO confirmed that over
50,000 employers and 1 million
super contributions are now
being made under the
SuperStream standard every
month. The ATO has also
reminded medium to large
employers (those with 20 or
more employees) to be
compliant from 30 June.
Source: ATO
REFORM AGENDA
Commonwealth Treasurer Joe
Hockey has reiterated the
Government's position that
there will be no changes to the
superannuation settings during
the life of the current
Parliament.
Source: SuperReview
SuperBrief Independent & Concise
Issue #21 of 2015: Friday, 29th
May