POWERED BY MOMENTUM MEDIA
Only some super reforms to get through new parliament
The new Labor Government will probably implement Jeremy Cooper’s SuperStream proposal but an increase in the superannuation guarantee (SG) now looks very unlikely, according to Multiport.
The Government’s proposed mid-2011 tax forum would revisit the Henry Tax Review and may also cause holdups in the rollout of Cooper Review changes, Multiport’s technical services director Philip La Greca said.
“Efficiency gains like SuperStream should happen given broad support and the cost savings for fund members,” La Greca said.
Future of Financial Advice (FoFA) reforms and competency training are also likely to be implemented because they are seen as increasing consumer protection, he said.
La Greca rated MySuper as a line ball proposition because it has a consumer focus but the cost of implementation versus the potential member benefits would be revisited. MySuper has drawn support from some sectors of the industry but was publicly criticised in the lead up to the election by both Shadow Treasurer Joe Hockey and Financial Services Council chief executive John Brogden.
La Greca said a proposed increase in the SG to 12 per cent and additional tax offset for low income super contributions were now very unlikely to be accepted in the near term because they would require tax changes to help fund an increased cost to both Government and employers, and also require consensus on the Henry tax reform proposals first.
Recommended for you
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
