After promising to enact the Royal Commission's recommendations to the letter before the report was even released, and then saying it accepted all the recommendations "in principle" after the report was published (whatever that means), Labor have now rejected outright one of the Royal Commission's most important findings: that mortgage... Show More
In my first column for the year, I reflect on the debate I kicked off regarding the absence of any publicly managed super solution and the role the Future Fund could play in this context. After dealing with criticisms from vested interests, I query whether Chris Bowen has unwittingly wedged... Show More
Today I write that in 1992 Paul Keating created forced public saving via superannuation yet, in an unusual oversight for an otherwise inspired policy, offered no public super solution (click on that link to read the full column or AFR subs can click here). Excerpt only: Show More
Today I write about the following puzzle: Over 90 per cent of the equity raised by Australian companies is funded via the domestic stock market. Yet when these same companies issue safer debt (or bonds), which have predetermined returns and rank above shares in bankruptcy, local capital is suddenly missing... Show More
In the scramble for customers, some fund managers and superannuation providers are taking on additional risk, investing in a range of assets and deeming them ‘cash’ when clearly they are not. Show More
In the AFR today I argue that Peter Costello is right that there is a role for the government to play in providing super savers with a public sector alternative to existing super funds---in fact, I argued exactly the same thing at length way back in 2009 with my "KangaSupa"... Show More
In the AFR I argue that super funds need to radically overhaul their approach to asset-allocation by offering different options for renters and home owners, which have fundamentally different portfolio preferences given the way they are investing their wealth outside of super. The bottom line is that about half of... Show More
Excerpt from my column in the AFR today: Show More
Last week's AFR contains an interesting article on housing affordability and a new front on the crisis. It addresses the emerging issue of retirees draining their superannuation savings to pay off their mortgages and then go on the aged pension. Effectively defeating the purpose of superannuation. Show More
If, like me, you assumed Federal Treasurer Scott Morrison was going to go easy on well-established superannuation savers in the Budget, you likely share my slightly queasy feeling. It turns out we’re more alone that we first thought and that a changing landscape may call for a change in strategy. Show More