Club Plus chooses term deposits over shares
Club Plus Super chief executive Paul Cahill said superannuation members nearing retirement were unhappy with high allocations to shares in their super funds.
They require alternative investment options like term deposits, he said.
Cahill said CoreData research that surveyed Australia's wealthiest investors found Australian shares had lost favour.
"This research confirms what we've been hearing from many of our members nearing retirement for some time, share markets are simply not delivering the performance they require to meet their retirement goals," he said.
Cahill said Club Plus offers members the option of 'locking-in' returns by investing in term deposits.
"We empower our members with superior investment options that achieve the best path for their working lives and retirement," he said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Ethical super fund Australian Ethical has announced the appointment of Anthony Lane as chief operating officer.
The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.
ASIC has warned that practices across the $200 billion private credit market are inconsistent and, in some cases, require serious improvement.
A surge in electricity prices has driven the monthly Consumer Price Index to its highest level in a year, exceeding forecasts.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
