Legislation to encourage the development of a retail corporate bond market would be unlikely to significantly increase the depth and liquidity of the domestic Australian market, according to the Association of Superannuation Funds of Australia (ASFA).
The industry association welcomed the Government's amendments to the Corporations Act, which are aimed at improving the trading of retail corporate bonds in Australia.
The reforms would streamline the corporate bond investments process with only a marginal impact on the depth and liquidity of the domestic market, according to ASFA
As the wholesale market was a conduit for super funds, and the additional retail issuance to Australian investors would be marginal compared to the overall size of the wholesale markets, the reforms were unlikely to affect super funds, ASFA said.
Additionally, it welcomed the Government's intention to define the terms ‘financial planner' and ‘financial adviser' as supporting the Future of Financial Advice reforms in empowering consumers to identify "genuine providers of financial product advice".
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
According to the industry body, funds should have an obligation to transfer members in failing products to better-performing products in a timely way.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
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