In some cases, members of retail funds that use related-party services are paying double the cost paid by a member of a median not-for-profit fund. Based on the data provided in the APRA paper, AIST has estimated that outsourcing to related service providers – notably in the area of administration – collectively costs members of retail funds $423 million or $1,522 per member each year. If Cooper is genuine about the importance of good governance, tackling the inherent conflicts of interest that exist at the board level of retail funds must take precedence over any tinkering with the boards of not-for-profit funds.
Opinion
The roughly US$2 trillion ($2.8 trillion) sell-off in the global software sector since September 2025 is, while a painful drawdown for growth investors, also a timely reminder that asset owners should be more alert to stock-specific dispersion and hidden concentration risk inside portfolios, writes JANA head of research execution, Matthew Gadsden.
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