The results of the Australian Institute of Superannuation Trustees’ annual survey, conducted by Irving Saulwick & Associates, sheds some light on what trustees are thinking about.
The Trustee Role
74% (2001: 80%) of trustees who responded to the survey believe their role is becoming more difficult.
77% (2001: 80%) say trustees should be paid, but only 42% (2001: 48%) are paid.
Financial Services Reform Act (FSRA)
17% say their board is very prepared, 45% say they are quite prepared and 28% say they are not at all prepared to deal with the licensing of trustees under the FSRA.
10% say their board is very prepared, 56% say they are quite prepared and 21% say they are not at all prepared to deal with the compliance training under the FSRA.
Corporate Governance
32% of trustees say their investment managers report whether they have exercised proxies at AGMs of companies in which the fund has invested in.
62% say that their managers should be required by law to do so.
25% (2001: 22%) say their board conducts annual performance reviews of trustees.
63% say that trustees should report annually on any training they undertake.
Superannuation Policies
76% of trustees believe compulsory SG payments should be increased.
68% say employees should be required by law to contribute to this increase.
62% say the Government should make the contribution for low income employees.
Investment trends over the next 2-3 years
68% (2001: 83%) see greater overseas investment.
83% (2001: 85%) see more use of specialist fund managers.
41% (2001: 47%) see greater use of index or passive investments.
55% (2001: 63%) see more use of development or venture capital.
