7 trustee-directed products fail superannuation performance test
The latest superannuation performance test results have shown improvements, but four in 10 trustee-directed products continue to exhibit “significant investment underperformance”, warns APRA.
Spike in CPI reduces expectations for November rate cut
A surge in electricity prices has driven the monthly Consumer Price Index to its highest level in a year, exceeding forecasts.
AUTHOR
Adrian Suljanovic
ASIC’s lawsuit against Equity Trustees a warning for other trustees
The corporate regulator has launched civil proceedings against Equity Trustees over its inclusion of the Shield Master Fund on super platforms it hosted, but other trustees could also be in the firing line.
AUTHOR
Keith Ford
Coalition slams government’s plans to revise performance test
The shadow minister for financial services says reworking the superannuation performance test to allow investment in house and clean energy risks turning super into a ‘slush fund’ for government.
Super assets hit $4.3tn over June quarter
Australia’s superannuation sector has expanded strongly over the June quarter, with assets, contributions, and benefit payments all recording notable increases.
AUTHOR
Adrian Suljanovic
Payday super delays threaten women’s retirement savings, SMC warns
The Super Members Council (SMC) has called on the government to urgently legislate payday super, warning that delays will further undermine the retirement savings of Australian women.
AUTHOR
Adrian Suljanovic
Peak body says performance test must evolve with system
ASFA has highlighted that regulation should not be “set and forget” and calls for a modernised test to meet future needs.
AUTHOR
Adrian Suljanovic
AMP Super explores use of crypto ETF investments
The super fund is open to the idea of using crypto ETFs to invest in the asset class, but says there are important compliance checks to tick off first.
ASIC targets trustee over $160m Shield super losses
ASIC has launched civil penalty proceedings in the Federal Court against one of the super trustees wrapped up in the Shield Master Fund failure.
AUTHOR
Keith Ford
Super associations back government’s targeted performance test review
Industry associations have welcomed the Treasurer’s review into the superannuation performance test and called for targeted changes that would enable investment in certain assets with strong long-term performance.
