Business
APRA labels 90pc of super funds ‘uncompetitive’ – The Australian Financial Review
APRA’s superannuation tsar has labelled super funds with less than $30 billion under management “uncompetitive” and says fees are still too high.
The average super fund trustee oversees a fund with $11 billion in assets, according to Ms Rowell.
While APRA has been actively pushing small funds to merge for some time, this is the first time the prudential regulator has been explicit about the minimum acceptable size of a fund.
All things being equal, the evidence suggests that larger funds are better placed to deliver stronger investment performance and lower fees, said Ms Rowell.
While 70 APRA-regulated funds have finalised mergers over the…
-
Noosa News21 hours agoGirl on scooter dies in Laidley, motorbike rider killed in Gatton
-
Noosa News16 hours agoLaidley e-scooter death: Tragic new details after Summah Richards killed in freak accident
-
General20 hours agoBrisbane coach Michael Maguire backs Reece Walsh despite error handing Broncos defeat
-
General15 hours agoEaster drowning toll in NSW rises after fisherman swept off rocks in Sydney’s south