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What big super can learn from small funds

Bigger isn’t always better when it comes to member services. Megafunds might be able to mass customise, but when you’ve got two million members it’s tough to bring the personal touch.

Lachlan Maddock | 15th May 2024 | More
‘It comes at a cost’: Small funds fret APRA levy increase

A number of super funds managing less than $10 billion have been slugged with an increase in their restricted APRA levy of more than 80 per cent even as the regulator pushes them to keep costs down.

Lachlan Maddock | 30th Apr 2024 | More
APRA fails its own test on costs

Few would disagree that a strong regulator is required for a strong superannuation system. But APRA’s myopic focus on cost to members means its $70,000 Christmas party is unlikely to help its reputation.

Lachlan Maddock | 19th Apr 2024 | More
  • The three warnings big super can’t ignore

    If or when there’s another royal commission into financial services, the profit-to-member and industry funds will not be able to say they weren’t warned about their problems. They were warned twice on Tuesday alone.

    Lachlan Maddock | 3rd Nov 2023 | More
    APRA goes deep on super data

    The prudential regulator wants to publish more granular details of how funds spend and invest their members’ money in an initiative it hopes will improve transparency in the $3.5 trillion super sector.

    Staff Writer | 11th Oct 2023 | More
    AustralianSuper headed to court over multiple accounts fiasco

    ASIC has launched civil proceedings against Australia’s biggest super fund over allegations it failed to consolidate the accounts of 90,000 members and continued to charge them fees.

    Staff Writer | 8th Sep 2023 | More
  • ‘A question that everybody’s avoiding’: What becomes of small funds?

    Mergers aren’t costless and big super can’t necessarily be counted on to clean up the long tail of unsustainable small funds. Solving the problem might require thinking outside the box.

    Lachlan Maddock | 19th Jul 2023 | More
    Super funds torched by regulators for slow progress on retirement income covenant

    A joint review conducted by ASIC and APRA was scathing of funds’ collective attempts to meet their new legal obligation to help fund members plan for retirement, and urged them to “address, with urgency, the gaps in their approach”.

    Tahn Sharpe | 19th Jul 2023 | More
  • APRA takes stock and issues stark warning in the middle of cyber security study

    The prudential regulator is “rigorously targeting” areas of non-compliance it identifies during its massive study of cyber resilience among banks, insurers and superannuation trustees.

    Staff Writer | 14th Jul 2023 | More
    Don’t follow the lead of overseas on unlisted assets: Frontier

    Australian super funds and asset managers shouldn’t ape their international peers when it comes to unlisted investment practice, according to Frontier, and demand for more frequent valuations will ultimately be worn by members.

    Lachlan Maddock | 7th Jul 2023 | More
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