Up to 25 per cent of a handful of super funds was in cash, as of last month, while others had between 6-8 per cent cash, according to Frontier Investment Consulting.

Fiona Trafford-Walker, managing director of Frontier, told the CMSF conference last month that while there had been some member switching to cash options, the totals allocations quoted were not a direct reflection of that.

I&T News incorrectly quoted her implying that the figures represented member switching.

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