Business
Super fund body’s policy replacement ‘self-serving, absurd’ – The Australian Financial Review
Just five of the worst-rated superannuation funds in Australia would fall foul of the super industry’s proposed plan to replace the Morrison government’s new performance…
According to ASFA’s model, funds that charge fees and costs net of tax that exceed the benchmark would then proceed to the second stage comprised of an assessment of investment returns, which would calculate risk-adjusted net returns.
According to the Australian Prudential Regulation Authority’s heatmap on super fund fees and performance, only five super funds would fail the 130 basis point “hurdle”: the TWUSuper (Transport Workers Union fund), BEST Super (a small fund run by Goldman Sachs & JBWere),…
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