Rest expands impact investment allocation
Rest has added to its suite of impact investments with a US$75 million commitment to international investment manager TowerBrook Capital Partners’ Delta private equity impact fund.
The Delta fund will invest in mid-sized private companies that are expected to generate strong long-term returns as well as contribute to at least one of the UN’s Sustainable Development Goals (SDGs). It will target opportunities in North America and Western Europe in sectors such as green industry and clean energy, education and human capital development.
Rest Chief Investment Officer Andrew Lill said the deal aims to give Rest greater exposure to assets that are expected to benefit from three of the key ‘megatrends’ the fund believes will influence the global economy and society over the long term: digitalisation, decarbonisation and demographic changes.
TAL announces new technology partnership with Microsoft
TAL has announced a new three-year strategic agreement with Microsoft, accelerating its commitment to using the latest technology to transform its service and operations to deliver faster, better experiences for customers and partners, and its people.
The new agreement expands TAL’s ability to harness generative AI to enhance customer and employee experiences.
Hinesh Chauhan, Chief Information Officer at TAL said, “Our partnership with Microsoft is an investment in advanced technology to make the experience our customers, partners, and employees have with us, better.”
Equip Super research finds travel a retirement priority
According to a new survey from Equip Super more than two-thirds (71%) of Australians would prioritise spending retirement savings on travel. Health concerns ranked as the second priority (56%), with spending on hobbies and interests ranking third (55%) Self-improvement and recreational activities also rank in the top retirement priorities for Australians according to the Equip’s research.
Sam Higgie, Equip Super’s Head of Retirement, said that the results highlighted Australians’ aspirations for their retirement: “It might feel like no surprise that Australians want to focus on travel in their golden years, but this is a turnaround from two years ago when retiree appetite for travel remained low, despite the end of lockdowns and being able to travel again freely.
Super contributions and home ownership at the centre of adviser queries
Financial advisers are focused on helping their clients navigate superannuation contributions, transfer balance caps, dealing with a death benefit and home ownership issues, according to the latest data from AMP Advice.
TapIn, AMP Advice’s technical service for its advice network, received over 6800 calls and email queries from financial advisers for the half year ending 30 June. Of these, over 880 were email queries received from advisers, up by 40% on the same period last year.
The last six months saw a significant number of queries on superannuation concessional contributions, including personal deductible contributions and the unused catch-up concessional contributions provisions. Almost one in five questions received related to superannuation contributions and home ownership issues, whereas over one in ten related to the transfer balance cap, means testing or TPD benefit tax issues.
