POWERED BY MOMENTUM MEDIA
No accrued default products left
The $10 billion of accrued default product assets that were left in March 2017 have been reduced to $0 as they have all been driven to MySuper products by the end of the June 2017 quarter.
According to the Australian Prudential and Regulation Authority’s (APRA’s) latest quarterly superannuation statistics reports, total assets in MySuper products totalled $594.7 billion at the end of the June 2017 quarter.
“Over the 12 months from June 2016 there was a 25.5 per cent increase in total assets in MySuper products,” the report said.
By the end of the June 2017 quarter super assets totalled #2.3 trillion, and over the 12 months from June 2016 there was a 10 per cent increase in totally super assets.
MySuper products now account for 41.1 per cent of total APRA-regulated assets, up 4.1 per cent since the end the June 2016 quarter.
The APRA report also found that the total number of MySuper products has remained unchanged since the March 2017 quarter of 111.
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