POWERED BY MOMENTUM MEDIA
Industry sponsors Consumer Super Centre
QSuper, First State Super and Vanguard Investments have joined AustralianSuper in co-funding the proposed Superannuation Consumer Centre.
CHOICE chair Jenni Mack said momentum was building around the centre and although they were a fair way off the funding target, industry funds had shown particular interest.
"We're getting a lot of momentum with the industry funds," Mack said.
"We'd like to see the retail sector come out in support but it's great that Vanguard has led the way in that regard."
Mack, Professor Susan Thorp from the University of Technology Sydney and former general manager of AMP Corporate Super and head of AMP Direct, Anne De Salis, have been appointed as holding directors. However, the centre is yet to find a chief, with a local search being conducted by Spencer Stuart.
"We want somebody who knows and understands super and has an appreciation of the consumer aspects of that," Mack said.
"They have to be competent with dealing with the highest levels of government and industry and need to be seen as a person of integrity by consumers."
Last year the Federal Government pledged $10 million in investment to support development of the centre — on the proviso it was matched by industry contributions. AustralianSuper was the first industry player to commit to part-funding the centre in February.
The Consumer Superannuation Centre will act as a dedicated expert consumer voice for superannuation and include an advocacy program, along with a social media platform to deliver education and assistance, Mack said.
The Centre is due to open in August and is very close to finding a home at a local university, Mack 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
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
