10 November 2008 06:07
A spokesperson for one super fund expressed concern that funds should not be advising members about switching options without taking their whole financial situation into account. Vamos and Reynolds, however, said that they hoped this latest ASIC measure would lead to longer-term reform enabling funds to give simple advice. The Financial Services Working Group currently has submissions on this issue before Treasury.
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Ian Patrick, chief investment officer of the $370 billion Australian Retirement Trust, says that integrated balance sheet management will “beyond a shadow of a doubt” become a more prominent feature in the superannuation industry as funds grapple with the compounding effects of their growing size, systemic importance and the liquidity needs of servicing a larger cohort of retirees.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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