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Eight super trustees investigated as 11 dud funds exit – The Australian Financial Review
Super trustees are being investigated over possible failures in their obligations to members over underperforming products.
However, the news is not all positive, APRA deputy chairwoman Helen Rowell said. In particular, we are concerned that some funds identified as the poorest performers 12 months ago remain in that position today.
The latest report revealed six products were considered significant underperformers, returning results at least 0.75 per cent per annum below the industry benchmark on average over six years.
Among that group were Colonial First States FirstChoice, BTs MySuper, Westpac Group Plan MySuper…
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