POWERED BY MOMENTUM MEDIA
ISA welcomes streamlined bid process
Industry Super Australia (ISA) has backed the federal government's response to the productivity commission inquiry into public infrastructure after it supported the use of streamlined bid processes.
ISA chief executive David Whiteley said he was happy the government supported the use of the inverted bid model.
"The government has succeeded where many have failed by addressing the two key barriers to increased superannuation investment in greenfield infrastructure: low bid costs and increased deal flow," he said.
"Lower bid costs and increased deal flow prompted by the Australian government's asset recycling initiative will increase the opportunities for superannuation funds to invest."
The initiative is in line with the large exposure to brownfield infrastructure assets with over 20 per cent of funds under management in illiquid investment such as direct infrastructure, ISA said.
But this needs certainty in cash flows to plan out long term investments.
"It is vital there are stable regulatory settings within super — particularly in respect to default contributions. The existing default fund quality filter has provided that certainty by enabling high performing funds to confidently invest for the long term," Whiteley said.
"Relentless lobbying from the banks to remove this safety net and bundle up business banking services and employer default super in workplaces will have significant adverse consequences, including reducing the appetite of funds to invest in infrastructure.
Recommended for you
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.
The best interests duty and new class of adviser didn't make the cut for the pre-election DBFO draft bill; however, ASFA has used its submission to outline what it wants to see from the final package.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
