(August-2003) APRA’s data collection abilities to improve
The Australian Prudential Regulation Authority (APRA) says it will use the more exacting reporting requirements of the Superannuation Safety Amendment Bill to provide more detailed performance analyses on super funds and trustees.
It has also flagged the possibility that such data might, after consultation, be made available to the public.
“Compared to banking and insurance, superannuation as a product is striking in the inability of members to compare competing offers,” notes APRA executive general manager Charles Littrell. “APRA collects considerable information from superannuation trustees and funds, and from June 2004 will collect materially more information. We use this information to build better early warning and supervisory attention systems. That is, superannuation statistics are often helpful in identifying funds that should receive closer or more urgent attention from our supervisors.”
He adds that the same information may also be helpful in developing long-term performance analyses on funds and, in particular, on trustees.
AUTHOR
Zilla Efrat
Recommended for you
The super fund has launched Retirement Manager, a digital advice tool helping members plan income, spending, and retirement confidence with integrated support.
APRA has warned retail super trustees that financial adviser involvement in recommending platform products does not diminish their obligations, as regulators turned the spotlight on the Shield Master Fund and First Guardian Master Fund during a meeting with fund CEOs.
AMP’s chief economist has unveiled a wish list for the Australian government’s Economic Reform Roundtable.
Australian retirees could increase their projected annual incomes between 3 and 51 per cent by incorporating personal and household data into their retirement income strategies, according to new research.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Lakehouse Small Companies
152.92 3 y p.a(%)
3
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
4
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
5
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
