POWERED BY MOMENTUM MEDIA
(May-2003) Industry funds’ low charges
The latest KPMG Public Offer Superannuation Fund Index shows that industry funds charge the lowest administration fees compared to their retail counterparts, with Australian Primary Superannuation Fund emerging the cheapest, with a fee of just 0.18 per cent.
Runner up Retail Employees Superannuation Trust (REST) comes in at 0.20 per cent, and the Australian Retirement Fund (ARF), HESTA, Superannuation Trust of Australia and Sunsuper were ranked equal third with 0.26 per cent.
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The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
