A new investment consultancy has kicked off in Perth with heavyweight backing, with Wyllie Group and other clients giving it more than $1 billion in funds under advice.
Australia's superannuation industry and its 16 million members watched markets fall and braced for impact as 2020 delivered an unprecedented financial stress test.
National superannuation giant First State Super and smaller Perth-based fund WA Super have signed a memorandum of understanding to evaluate the benefits of a merger.
WA Super has announced it will invest $20 million in the WA Impact Fund, as part of its membership of the newly founded Impact Investment Alliance of WA.
A new alliance was launched in Perth this month to promote investment in organisations focused on environmental, social and cultural good while also creating financial returns.
WA Super has confirmed a memorandum of understanding has been signed with two other superannuation funds to create an entity that would manage around $23 billion in assets for about 347,000 members.
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WA Super has finalised its merger with fellow local superannuation fund Concept One, with the pair combining to form a $3.4 billion fund with more than 60,000 members.
WA Super has appointed Tim Shanahan to replace retiring chairman Nick Catania, with effect from July 1.Fellow long-serving directors Alex Bajada and David James will also retire.
