POWERED BY MOMENTUM MEDIA
Planners want super funds within Royal Commission ambit
Financial planners are highly resistant to a Royal Commission into the banking and financial services sector but believe any such scrutiny should include superannuation funds.
The survey, conducted by Super Review's sister publication, Money Management, revealed that while more than 70 per cent of respondents did not believe a Royal Commission was justified they believed that if it had to be held, its terms of reference should include superannuation funds.
When asked what sectors of the financial services industry a Royal Commission should focus on, nearly 80 per cent suggested it should include superannuation funds alongside banks, insurance companies, and fund managers.
While the Government has consistently resisted calls for a Royal Commission into the banking and financial services industry, its narrow majority in the House of Representatives and the make-up of the new Senate suggest a compromise may have to be reached.
The survey also revealed that respondents regarded vertical integration as being a root cause of many of the problems which had given rise to calls for a Royal Commission.
Recommended for you
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
4
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
Add new comment