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
The $80 billion Mercer Super has delivered a fourth consecutive year of double-digit returns to most members of its SmartPath lifecycle product. Global equities did a lot of heavy lifting, but chief investment officer Graeme Miller tells Investment Magazine that the fund is now looking further afield for returns.
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