POWERED BY MOMENTUM MEDIA
Professional Associations Super gets MySuper authorisation
Another industry superannuation fund has received MySuper authorisation from the Australian Prudential Regulation Authority (APRA).
Professional Associations Super announced it had received authorisation from the regulator this week, effective from 1 July, this year.
Confirming the APRA authorisation of the fund's MySuper product, Professional Associations Super chief executive Megan Bolt said the product was among the first 10 to be authorised under the new arrangement.
"This is a huge achievement in moving the fund forward, and I'd like to commend the board and executive team for all their work in reaching this milestone," she said.
"Our MySuper offering will be similar to our current default offer - Growth investment option - which remains as a low-cost and highly competitive product, suited to the members of the fund."
Recommended for you
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
HESTA has delivered a 10.18 per cent return for its MySuper Balanced Growth option in the 2024–25 financial year, marking the third consecutive year of returns above 9 per cent for the $80 billion industry fund’s default investment strategy.
Sally McManus, secretary of the Australian Council of Trade Unions (ACTU), commented on the proposal after former prime ...
Strong performance across domestic equities and infrastructure assets has seen the fund achieve solid returns for the 2024-25 financial year.
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(%)
