POWERED BY MOMENTUM MEDIA
WSSA calls for 11th default super fund option
The Workplace Super Specialist Australia (WSSA) has called for an eleventh default superannuation be added to the recommended default fund list, telling its national conference that existing employer funds should be included.
The suggestion came in response to the recent Productivity Commission’s (PC’s) report that recommended that the Employee Assisted Model go ahead.
““We propose that the employer fund becomes the default if the employee doesn’t choose, because employer funds are not just off-the-rack funds. A lot of these funds have highly negotiated fees, special insurance arrangements and specialised education facilities,” WSSA chief executive, Douglas Latto, said.
Latto said that advantages to putting employer funds on the recommended list were that the employee would not lose benefits negotiated with the fund by workplace specialist advisers, the employer would remain an employer of choice by providing something extra to employees, and that all funds would be encouraged to innovate in order to remain in the top ten.
He also said that it would enable good funds outside of the top ten to survive, which would struggle to do so under the current proposal for ten default funds.
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
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(%)
