Fri, 13th Sep 2024

In this week's Superannuation News Wrap, Paige Estritori discusses AustralianSuper's $1.1 billion loss from its investment in Pluralsight, marking a potential risk of investing in private tech companies. Despite the significant loss, AustralianSuper is committed to private equity due to past strong returns. Criticism comes from NSW Senator Andrew Bragg, who challenges the superannuation governance model, prompting discussions on enhanced governance and diversified investment strategies. The Australian Prudential Regulation Authority (APRA) is responding by expanding its review on liquidity and stress-testing, aiming to improve investment governance and prevent future financial issues. The performance of tech investments, like Pluralsight, is affected by multiple factors including global events, national policies, and sector competition. Despite unresolved questions, significant changes in superannuation and tech investments are on the horizon.