Superannuation

AUSTRALIA - State Street Global Advisors (SSgA) expect that exchange traded funds (ETFs) will continue to grow in popularity with Australian institutional investors as they come to grips with new legislation stemming from the Cooper Review.

AUSTRALIA - The A$9bn (US$9.6bn) HOSTPLUS industry superannuation fund has launched an online advice service that provides members with a personalised superannuation plan, including investments and insurance strategies.

AUSTRALIA - A proposed merger between Equipsuper and Vision Super has been postponed on the eve of the agreed date following objections from board members.

AUSTRALIA -Plans to introduce a levy on regulated supers to help recompense members is unfairly favourable towards larger funds, industry bodies claim.

AUSTRALIA - The Gillard government will amend superannuation legislation to tighten the list of funds that are exempt from policing by the Australian Prudential Regulation Authority (APRA) it announced this week.

AUSTRALIA - Colonial First State has awarded three mandates in alternative investments totalling A$300m for its FirstChoice Growth superannuation product.

AUSTRALIA - The median superannuation growth fund returned a nearly flat 0.2% for April, dragged down by mixed results in investment markets and the continued strength of the Australian dollar, according to research from consultancy Chant West.

AUSTRALIA - The A$1.5bn ($1.57bn) legalsuper reported a 15% jump in employer contributions for the nine months to 31 March 2011 compared with the same period last year.

AUSTRALIA - Energy Super, the A$3.8bn ($4bn) industry superannuation fund, has selected financial services technology provider Financial Synergy to deliver its administration platform.

AUSTRALIA - The A$36.1bn ($38.6bn)Victorian Funds Management Corporation (VFMC) has reported overall of 3.63% Q1 and an annual return of 8.43%.