POWERED BY MOMENTUM MEDIA
Superannuation fund governance debate to reignite
The current debate over superannuation fund governance will be reignited in Melbourne next week at an event being hosted by the Australian Institute of Superannuation Trustees (AIST).
The event will see a panel of key players discuss the governance issue, including former Cooper Review chairman and Challenger executive Jeremy Cooper, leading barrister Noel Davis, investment consultant Chris Cuffe, Melbourne QC and chair of TWU Super David Galbally, the chair of AGEST Linda Rubinstein, and AIST chief executive Fiona Reynolds.
Cooper's view on the governance issue is expected to be particularly important to the debate in circumstances where he made a personal submission to the Productivity Commission review into default funds under modern awards.
In that submission Cooper said it remained his view "that the super industry would benefit from an increased participation by talented business people not directly connected to super, but with relevant skills".
AIST has been critical of elements of the governance formula developed by the Financial Services Council.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
