The superannuation trustee business has announced a 29 per cent growth in funds under supervision to $44.8 billion in the financial year 2023, up from $34.7 billion in the previous year.
Improving superannuation transparency and increasing focus on retirement outcomes are among APRA’s strategic priorities for super in 2023–24.
Hostplus has completed its merger with Maritime Super, bringing its total funds under management to more than $100 billion.
The government has released further exposure draft legislation on the proposed objective of superannuation, reflecting feedback received from its first consultation earlier this year.
The super fund has created a new feature on its app where members can track the progress of their transactions in real time, updating paper-based processes.
Posting a 6 per cent return for the financial year 2023, Australia’s sovereign wealth fund has positioned its portfolio slightly below neutral setting, warning markets are underpricing significant economic and geopolitical risks.
Allocations to property are one of two classes that have seen decreases in their super allocations, according to latest APRA data, while infrastructure allocations have risen almost 20 per cent.
Australian Retirement Trust has noted there is a widening performance differential between its ART Super Savings and QSuper portfolios.
TelstraSuper is now offering its members specialist advice on aged care funding.
APRA has announced 96 trustee directed products and one MySuper product failed to meet the benchmark of its 2023 superannuation performance test.