SuperRatings has analysed super fund performance in line with the Government’s performance test criteria and found that 90% of trustee directed options are estimated to pass the test compared to 80% from last year.
There are expected to be eight funds with more than $125 billion in funds under management by 2025, according to KPMG, and funds’ frameworks will need to adapt to cope.
It would be more effective for superannuation funds to focus on building an attractive default fund than spending money to try to engage members in the accumulation stage, according to EY Australia.
Stockspot's founder has thrown doubt on Hostplus’ 2022 financial year returns, highlighting a need for greater transparency of holdings within the industry.
The Australian Securities and Investments Commission has accepted voluntary cancellations or imposed conditions on the registration of a number of self-managed superannuation fund auditors.
Women in Super (WIS) has called for a gender analysis of future Budget decisions to ensure that adverse impacts on women are assessed as part of policy design.
Superannuation funds have been told they will not face regulatory action if they seek to divest Russian assets, although the closure of the Russian stock market is making it difficult for them to exit assets quickly.
The next chapter in driving growth for asset management will mean anticipating change and evolving for the future. Learn how the most successful asset managers will focus their resources.
Australian Retirement Trust is set to merge with the $8 billion Australia Post Superannuation Scheme, just days after completing the merger between QSuper and Sunsuper.
Conservative choice products will be challenged by the Your Future, Your Super (YFYS) performance test, with several problems and inconsistencies in the new regime set to be revealed, according to Chant West.
Replacing the annual superannuation contribution cap with a lifetime one would boost women’s super balances and make the system fairer, according to Chartered Accountants Australia and New Zealand.
With International Women’s Day approaching next week, Fidelity has found more than half of women are depending on their employer by failing to make any personal superannuation contributions.
The Australian Council of Superannuation Investors has urged super fund beneficiaries to take notice of the Intergovernmental Panel on Climate Change report saying it will be a catalyst for investors to adjust climate targets.
Allowing more superannuation fund members to access financial advice is a key priority for Australian Retirement Trust, the newly-combined QSuper and Sunsuper fund.
EISS Super and NGS Super have weighed in on the Russia/Ukraine war, reassuring members that conflicts like these usually have short-term negative financial impacts which recover quickly.
People using the First Home Super Saver Scheme to buy their first property will be able to access $50,000 from 1 July, 2022, up from the existing releasable limit of $30,000.
QSuper has completed its merger with Sunsuper, Australia’s largest superannuation merger, to create a combined fund with more than $230 billion in funds under management.
There are now over 600,000 self-managed superannuation funds in the industry, according to the Australian Taxation Office, with total assets rising to $820 billion.
The Self-Managed Super Fund Association has welcomed adjustments made by the Australian Tax Office to align SMSF performance calculations with that of the Australian Prudential Regulation Authority but says the changes do not go far enough.
Brand and marketing expenses by superannuation funds can be demonstrably linked to members’ best financial interest, as long as the appropriate framework is applied, according to consultancy Forethought.
HESTA is urging super funds to adopt a new universal, streamlined process to make the splitting of superannuation assets easier, faster and fairer following the results of a successful pilot program involving two HESTA members.
Questions have been raised during Senate estimates as to whether a superannuation’s fund ethical framework should be taken into account during the annual performance test.
The Australian Taxation Office (ATO) estimates the unpaid super gap to be $2.45 billion, and has shined a light on structural issues around the lag between superannuation information reporting and actual payments.
Start-up superannuation fund GigSuper has entered administration despite a recent capital raise, owing $2.7 million to unsecured creditors and $200,000 to employees.
While 89,000 members have exited an underperforming superannuation fund, more than a million members have opted to remain, according to figures from the Australian Prudential Regulation Authority.
Portfolio manager, Mike Younger, has left REST Super after five years as in its Australian equities small caps team in order to join Prime Value Asset Management.
Labor Senator Jess Walsh has pressed the Australian Taxation Office as to why it failed to commission a mass advertising campaign for superannuation stapling changes.
Australian institutional investors looking at Chinese onshore equity market cannot overlook the risks and its uniqueness but will also benefit from its alpha and diversification.
The Australian Prudential Regulation Authority (APRA) is consulting with industry on plans to expand the breadth and granularity of the superannuation data it publishes.
The Australian Securities and Investments Commission is seeking industry feedback on remaking relief contained in seven legislative instruments relating to specific financial services disclosure requirements.
The regulator has been questioned by Senate as to why it failed to include a specific expert on self-managed superannuation funds in the Financial Services and Credit Panel.
Some 22 MySuper products have closed, merged or left the market since the introduction of the heatmaps, according to the Australian Prudential Regulation Authority.
AustralianSuper will funnel £23 billion ($36.3 billion) into its European portfolio over the next four years, targeting high-quality investments such as sustainable mixed-use real estate as well as digital infrastructure.
A recent report by the SMSF Association and University of Adelaide has found self-managed super funds with balances of $200,000 or more are cost-effective compared with industry and retail superannuation funds.
SuperRatings has estimated a 2.1% decline in the median balanced option in January following the market sell-off, despite some of the initial losses being recovered towards the end of the month.
Clearstream, Netwealth and Citigroup are the winners in the custody space, all increasing their assets under custody by 20% or more in the last six months.
Parametric Portfolio Associates LLC and Calvert Research and Management will implement ethical and sustainable screens and tilts across Rest Super’s listed real assets portfolio.
Liberal MP, Jason Falinski, has used a superannuation Parliamentary hearing to ask why QSuper failed to notify its members of changes to its deed structure following court approval.
Appearing before a House Economics Committee public hearing, UNSW’s Professor Scott Donald, says insurance implications of the Section 56 amendment is where the “rubber meets the road”.
The inability to build and maintain a risk reserve could leave a superannuation fund insolvent from an administrative error, according to the Australian Prudential Regulation Authority.