The number of ‘trustees’ – the companies which govern super funds – is expected to total about 320 after the Registrable Superannuation Entity licensing deadline of June 30. This compares with 1,200 pre licensing.
APRA has pointed out that discussions at this month’s Conference of Major Superannuation Funds included this estimate as being the likely number of ‘funds’ to exist post licensing. The number of funds, most of which are sponsored by companies which have outsourced their trustee and other super functions, will actually be about 7,280. But this figure is also in decline – it compares with 9,500 pre licensing.
26 April 2006 00:00
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Investments
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark.
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