POWERED BY MOMENTUM MEDIA
Prime Super MySuper approved
Industry superannuation fund Prime Super has joined the growing list of funds to gain approval from the Australian Prudential Regulation Authority (APRA) for a MySuper product.
Confirming the APRA approval this week, Prime Super chief executive Lachlan Baird said it showed the fund was well placed to deal with the demands of the Government’s Stronger Super policy.
“This is incredibly important for our registered employers,” he said.
“In the midst of quite a bit of superannuation change they’ll have one less thing to worry about.”
Baird said that now that the fund had its MySuper licence approved, it would focus its attention on the Government’s broader Stronger Super reforms including educating employers about the SuperStream data standards and how this would affect the way they interacted with the fund.
Recommended for you
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
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.
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(%)
