POWERED BY MOMENTUM MEDIA
Opposition says no to five year freeze
The Federal Opposition has refused to back a five-year moratorium on significant change to superannuation, claiming some beneficial change is necessary.
The Shadow Assistant Treasurer, Senator Mathias Cormann, said the Coalition had committed to no unexpected negative changes but would pursue those changes it believed to be positive, such as with default funds under modern awards and improving corporate governance.
He said the Coalition would also be moving to fix the excess contributions regime.
Cormann also suggested that the Federal Treasurer, Chris Bowen, would be able to wriggle out of his five-year commitment by not specifying what is “significant”.
Cormann also recommitted the Coalition to delivering on the 12 per cent super guarantee, albeit two years later than the Government.
He said the Coalition’s preference was for industry to self-regulate where possible.
Recommended for you
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
