POWERED BY MOMENTUM MEDIA
Fund members turned off from TV ads
Superannuation fund members are least enthusiastic about television advertising despite super funds focusing much of their marketing on it.
That's the finding from CoreData's 2014 Member Growth Report, which found members rank TV advertising as second last in terms of preferred super communication, with sponsorship for sporting teams or entertainment events coming in last. Television advertising scored 1.1 out of 10.
Members most commonly said (51.2 per cent) they have seen super fund communications and marketing through TV advertising in the past 12 months.
"Splashing your brand on the TV might be cutting through to members in terms of awareness but it is not an engaging communication tool for members, who would much prefer to hear from their fund via e-mail," head of financial services at CoreData Kristen Turnbull said.
Turnbull also suggested funds should provide economic and investment commentary on the news like banks, with 65.1 per cent of the respondents preferring this method.
Meanwhile, retail fund members are most likely to switch (64.8 per cent), while self-managed super fund members are least likely to switch (38.1 per cent). This means retail members are least likely to be happy with their fund (52.1 per cent).
Members rated robust investment returns and low fees as the top drivers to join a fund, with a score of 9.4 and 8.4 out of 10 respectively.
Also, 65.6 per cent of the 858 respondents in APRA-regulated funds said they would not be comfortable with any merger activity in their fund.
Recommended for you
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment