Mon, 22nd Jul 2024

In this week's Superannuation News Wrap, we discuss key developments in the Australian financial sector. The episode critically examines Cbus, a superannuation fund associated with the CFMEU, highlighting its recent merging with EISS Super and Media Super. Despite facing Senate questions, Cbus maintains active engagement through local CFMEU coordinators. Additionally, Spirit Super's appointment of J.P. Morgan as its custodian is analysed, noting the likely streamlining of asset management ahead of its merger with CareSuper. Finally, APRA's investigation into the fiscal ties between trade unions and superannuation funds is scrutinized, following demands for transparency by the South Australian Greens Senator, Barbara Pocock. These insights reveal the state of trade unions, superannuation funds, and the need for regulatory oversight in Australia's financial landscape.n