Welcome to Investment Intel: Australia, a newsletter by APAC Financial Services, providing Asian investment managers with updates on key news from the Australian market.

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Best wishes,

David Thomas
APAC Financial Services
Email: davidthomas@apacfinancialservices.com

Current News and Insights

 Several notable appointments were announced recently including:

• Sam Mostyn, the chair of Aware Super, is set to become Australia’s governor-general, making her the second woman to hold the position. Mostyn will step down from her role at the $160 billion fund. More here.
  
  

• Jo Townsend has been appointed head of NZ Superannuation, overseeing the NZ$70 billion fund. More here.
  
  

• Sophie Jelleff has been named the head of investment execution at the $82 billion super fund, HESTA. Further details here.
  
  

• JANA Investment Advisers, one of Australia's largest asset consultants, has appointed Claire Simpson as head of investments and David Schnell as head of diversified portfolios in its trusts business. More here.

Australia's private capital sector saw AUM surge to $139 billion by June 2023, a 33% increase from $104.5 billion at the end of 2021, driven by strong interest from domestic and international investors. The number of Australia-based family offices actively investing rose eightfold over four years, while superannuation funds pursuing similar strategies more than halved, now representing just 20% of all Australia-based private capital investors. More here.

Australia’s consumer price index (CPI) remained steady, rising by 3.4% in the 12 months to February 2024, according to the Australian Bureau of Statistics (ABS). The ABS noted that annual inflation has maintained this level for three consecutive months, aligning with market forecasts despite coming in slightly below expectations. More here.

Australia’s Federal Court has ruled that Vanguard broke the law by making misleading claims about certain ESG exclusionary screens applied to investments in an index fund run by the firm. The case marks the Australian Securities and Investments Commission’s (ASIC) first greenwashing court victory. More info can be found here.

Several of the largest Australian institutional investors, including AustralianSuper and Aware Super, recently met with the UK Foreign Secretary in Canberra, to discuss trade opportunities, and confirming their ongoing investment interest in the UK. Other institutional investors like HESTA, Australian Retirement Trust, Lendlease, IFM Investors, and Macquarie Group also joined the meeting to explore future opportunities for trade and growth. More details can be found here.