Business
Super trustees told: ‘don’t hug the index’ – The Australian Financial Review
After sowing confusion among fund managers and superannuation trustees with the release of new super fund performance benchmarks, the federal government is, in…
The government wanted to maximise net investment returns, hold funds accountable for the outcomes they delivered, and make members aware when their super products underperformed.
The centrepiece of this policy package was a benchmarking performance test using 11 local and international indices. Any fund that underperformed this benchmark over eight years would be named and shamed.
But the super industry, based on advice from asset consulting specialists, claimed the passive benchmarks would take…
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