An ASIC report notes the boom in demand for this asset, saying it heightens the need for “better-quality data” about the size of this sector where estimates range between $1.8 billion and $188 billion.
CPA Australia has weighed into the debate about the cost to oversee the industry, adding its voice to those who argue the fee structure favours the larger funds.
SuperRatings finalists can breathe a sigh of relief
(Pictured: Nathan MacPhee)
After a tumultuous year for Australia’s super funds, with the implementation of regulatory changes across a broad spectrum of their activities and with continued market uncertainties, the finalists in the SuperRatings Fund of the Year Awards should be well satisfied. The finalists are…
Super of the Year Finalists:
- AustralianSuper
- CareSuper
- Catholic Super
- First State Super
- HESTA
- HOSTPLUS
- QSuper
- REST Industry Super
- Telstra Super
- Sunsuper
Pension of the Year Finalists:
- AustralianSuper
- AUSCOAL Super
- BUSSQ
- Catholic Super
- Club Plus
- HOSTPLUS
- QSuper
- REST Industry Super
- Russell Private Active Pension
- Sunsuper
Best New Product Finalists:
- CBA Essential Super
- MTAA Super RetireSafe
- QSuper Guaranteed Term Annuity
- Suncorp Everyday Super
Rising Star Finalists:
- Kinetic Super
- Qantas Super
- Retirement Benefits Fund
- VicSuper
The winners, including the top Super Fund of the Year Award, will be announced at the annual SuperRatings dinner at the Melbourne Sofitel on Collins, on October 15, after the Day of Confrontation conference at the same venue.
Nathan MacPhee, SuperRatings’ chief executive, said the degree and pace of change within the superannuation industry, because of both regulatory change as well as market and demographic forces, had put a lot of pressure on trustees and management of the big funds in the past year.
“You have to take your hat off to them. Our research shows that the finalists, along with many other funds, have performed very well across our assessment categories in what would have been a difficult period.”
The SuperRatings Awards, now in their 11th year, follow a process-driven assessment system derived from how the research firm rates all funds and their individual investment and insurance products.
The Day of Confrontation conference, which precedes the Awards, usually attracts about 250 senior industry people. It is noted for speakers and sessions which are aimed at challenging the super fund industry to some ‘outside-the-box’ thinking.
Info: www.superratings.com.au/events
