Australian Pension Overseeing A$75 Billion Adds Private Equity

6 hours ago

Mercer Superannuation Australia Ltd. will add private equity to its default pension options for the first time, joining a growing number of retirement funds in embracing the strategy to diversify their holdings.
The A$75 billion ($49 billion) pension will begin deploying capital this year and aims to bring the allocation to around 5% of default options which members are automatically placed in, said its chief investment officer Graeme Miller. Most of the new money will be allocated to secondary and co-investments, he added.

Hashtags

#MercerSuperannuation

#GraemeMiller

#retirement

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Australia ‘Urgently Seeking' Detail on Trump's Drug Tariff Threat

Bloomberg

13 minutes ago

Bloomberg

Australia ‘Urgently Seeking' Detail on Trump's Drug Tariff Threat

Australia is 'urgently seeking' more detail on President Donald Trump's threat to impose 200% tariffs on pharmaceutical imports to the US, Treasurer Jim Chalmers said. 'These are obviously very concerning developments,' Chalmers told Australian Broadcasting Corp. radio in an interview on Wednesday. 'Our pharmaceutical industry is much more exposed to the US market. And that's why we're seeking – urgently seeking – some more detail on what's been announced.'

Qantas Says Passenger Addresses, Meal Choices Among Stolen Data

Bloomberg

30 minutes ago

Bloomberg

Qantas Says Passenger Addresses, Meal Choices Among Stolen Data

Qantas Airways Ltd. said personal information belonging to 5.7 million customers, ranging from names and addresses to phone numbers and meal preferences, were stolen in last week's cyberattack, as the fallout from the latest airline security breach becomes clearer. The Australian carrier on Wednesday said it has started to tell impacted customers what specific data was lost in the attack. While there's no evidence any stolen information has been released publicly, Qantas is monitoring the situation with the help of specialist cybersecurity experts, it said.

New Zealand's Central Bank Keeps Rates on Hold as Inflation Risks Simmer

Wall Street Journal

30 minutes ago

Wall Street Journal

New Zealand's Central Bank Keeps Rates on Hold as Inflation Risks Simmer

SYDNEY—The Reserve Bank of New Zealand kept interest rate on hold Wednesday, telling financial markets that it needs to keep watch on inflation risks, which have risen over recent months. The official cash rate was held at 3.25%, which was expected by most economists.