Business
Super shaming aimed at lowering fees – The Australian Financial Review
The government is happy for its shock budget measure to favour ambitious low-cost players such as Vanguard and put a dent in skyrocketing fees.
Mr Briggs, a former Westpac executive, referenced The Australian Financial Review’s Chanticleer column on Thursday, which suggested the reforms would “shame” and possibly kill off underperforming funds, while favouring managers adopting low-cost, passive investment strategies.
But the minister indicated the government was unfazed by the potential impact on the sector’s competitive dynamics and supportive of any efforts putting downward pressure on fees, which Treasury warns will hit $45 billion…
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