![]() |
Michele Dolin |
West Australian super fund GESB has hit the $10 billion mark in funds under management following 107 per cent growth over the past five years.
According to the fund’s chief executive, Michele Dolin, the growth was partly driven by consistent above market median voluntary contribution rates.
She claimed GESB’s fees were among the lowest 15 per cent of any Australian superannuation provider, while its default funds continued to return top quartile investment returns.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.