POWERED BY MOMENTUM MEDIA
Admin issues top AFCA complaints
Not unlike the experience of the Superannuation Complaints Tribunal (SCT) the majority of complaints dealt with by the Australian Financial Complaints Authority (AFCA) have been around account administration.
The latest data released by the AFCA reveals that account administration headed the list of issues dealt with at 49.7%, followed by group life insurance issues (37.6%) and superannuation death benefits distribution at 11.3%.
The AFCA data pointed to 2,220 superannuation complaints having been progressed, with 1,813 having been closed for the period.
Hardly surprisingly, the larger the organisation the more complaints it appeared to receive, with AustralianSuper topping the list, followed by REST, then AMP Super, Nulis Nominees and BT Funds Management.
Recommended for you
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
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(%)
