POWERED BY MOMENTUM MEDIA
Vigilance needed on suspicious super activity
The Association of Superannuation Funds of Australia (ASFA) has urged superannuation fund members to be alert to suspicious activity following the corporate regulator’s confirmation that it has received multiple referrals around scams and fraud relating to the early release of super scheme.
ASFA chief executive, Dr Martin Fahy, said: “It’s critical to protect your superannuation account details and to regularly check your balance, just as you would with an everyday bank account. It’s the best way to be alert to suspicious activity.
“ASIC has outlined the rising threat and identified the growing cases of cybercrime, fraud and identity theft specifically targeting super funds and their members in relation to the COVID-19 early release super scheme.”
ASFA also pointed to the Australian Securities and Investments Commission’s (ASIC’s) indication that there were continued law breaches by real estate agents encouraging tenants to access their super to meet rental payments and credit providers advising borrowers to use it to meet loan repayments.
“We encourage the authorities to prosecute these breaches to the full extent of the law and send a clear message to those preying on vulnerable members of the community,” he said.
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(%)
