FS Super

Limited recourse borrowing arrangements (LRBAs) allow a superannuation fund to borrow under strict conditions. Although LRBAs are not in the same class as nuclear physics for complexity, they should not be underestimated. Many advisers source cheap bare trust deeds from document providers thinking that the job is then done. Nothing is more dangerous. The transaction viewed as a whole has a multitude of traps for the unwary and inexperienced - traps that can cost the fund a lot of money.

BY   |  FRIDAY, 3 JUL 2026    11:30AM A "debt maturity wall" refers to a period in which a large amount of corporate debt comes due within a relatively short timeframe. These periods attract investor attention because borrowers often rely on refinancing existing debt rather than repaying it entirely from free cash flow.

If we are honest, our sector's decades long struggle with 'member engagement' is self-inflicted. We have confused availability of information with usefulness and equated more features with better outcomes. The result? Bloated websites, busy apps, sprawling portals, toolkits upon toolkits-yet limited evidence that members are making better retirement decisions.

Private markets continue to command a central role in institutional portfolios. Capital flows remain resilient across cycles, and findings from our fifth annual State Street 2026 Private Markets Study confirms the trajectory, with nearly half of institutions expecting to increase allocations over the next two years and only a minority stepping back.

The Pension Schemes Act 2026 received Royal Assent on 29 April 2026, marking a significant milestone in the evolution of UK pensions legislation. This is arguably the most wide-ranging set of pension changes since the new pension freedoms came into effect in 2015. It will significantly change the way both defined benefit (DB) and defined contribution (DC) plans operate.

BY   |  SUNDAY, 21 JUN 2026    12:36PM Credit markets have grown rapidly over the past decade. In 2025, private credit accounted for roughly 27% of the US$3.9 trillion US leveraged credit market, more than double its 13% share just a decade earlier. Forecasts suggest that private credit will continue to gain market share. With growth comes structural change. Traditional public-market issuers are increasingly weighing the merits of public versus private execution and pledging fealty to neither.

Getting the value of assets correct can help clients to manage tax, social security and aged care outcomes. It is important to ensure assets are valued correctly across all advice areas. The approach to valuation may differ depending on the advice being provided. In some cases, guidance is provided by the relevant department, or that department may undertake the valuation at its own expense. In this paper, we explore common areas of advice and the valuation considerations.

BY   |  THURSDAY, 11 JUN 2026    12:56PM Emerging markets (EM) are often characterised as volatile and unpredictable, and to some extent that is fair. There are periods when performance is stellar and others when it is less so. Over time, however, a consistent approach focused on quality growth companies has tended to deliver attractive outcomes. The question of whether such an approach works in EM is a reasonable one. Looking back over the past decade or so, the answer appears to be yes.

We expect alpha to play a much bigger role in fixed income returns this year. While beta should remain supportive in 2026, it is no longer exceptional. In this environment, security-selection alpha appears particularly attractive, offering both style diversification and stronger potential for excess returns relative to other alpha sources.

BY ,   |  WEDNESDAY, 3 JUN 2026    3:19PM As we look at the market today, one thing is clear: volatility and geopolitical noise loom large. But the biggest risk we see for real estate is not the noise; it is sitting on the sidelines. There will never be a risk-free moment. This is precisely why high-quality real estate matters more in portfolios in this environment. It can provide durable income, income growth, and a stabilizing anchor when day-to-day public market volatility is elevated.