POWERED BY MOMENTUM MEDIA
Retail banks push for market share with lifecycle products
Retail banks will use lifecycle investment options in a push to capture a larger slice of the super industry market share, according to Mercers DC consulting leader Graeme Mather.
Mather said CBA, ANZ and Westpac would launch products next year, while Suncorp would launch its lifecycle investment option in December.
The retail players had the technology and resources and would make a push to attract new members while industry funds were busy with regulations, Mather said.
"The retail banks aren't silly. There are a lot of things going on within industry funds with the regulations, MySuper applications and APRA and governance standards - they're quite distracted," he said.
Mather said he expected to see strong marketing campaigns at the start of next year, centered around the convenience and simplicity of combining super and savings account providers, with the added benefit of having retirement savings managed through a lifecycle product.
"They've got people walking into the bank and with auto-consolidation they'll be saying 'why don't you have all your super in the same place you have your savings, it's easy, you change jobs every few years but you never change your bank, we can show it all on one page, keeping it really simple and by the way, we'll manage the risk for you as you get older through these lifecycle strategies'," he said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
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(%)
