Australia’s industry superannuation funds are about to initiate another round of television advertising.
Industry Fund Services announced today that the new campaign would begin from this Sunday, and be based on the ‘compare the pair’ model, which was the basis of the funds’ campaign launched ahead of the implementation of choice of superannuation fund.
The difference in the new advertising is that it will also be targeting high-net-worth individuals, with the advertisements portraying two 40-year-old executives both earning $200,000 a year.
The executive chair of IFS, Garry Weaven, said the advertising would promote individual Industry Super Fund brands, so Australians who hadn’t invested in industry funds could seriously consider them as an option.
Australia’s superannuation sector is being held back by overlapping and outdated regulation, ASFA says, with compliance costs almost doubling in seven years – a drain on member returns and the economy alike.
Two of Australia’s largest industry super funds have thrown their support behind an ASIC review into how stamp duty is disclosed in investment fee reporting, saying it could unlock more capital for housing projects.
The corporate watchdog is preparing to publish a progress report on private credit this September, following a comprehensive review of the rapidly expanding market.
The fund has appointed Fotine Kotsilas as its new chief risk officer, continuing a series of executive changes aimed at driving growth, but NGS Super’s CEO has assured the fund won’t pursue growth for growth’s sake.