The average balanced super fund option lost almost 5 per cent, with only two being able to boast a positive return for the year, according to research from Super Ratings. Only one option returned above 1 per cent – from a retail firm – but over a longer period the data backs industry funds.
The industry has spent its 30-year existence focusing on accumulation but with a plethora of Australians entering the retirement phase, funds have to shift their mentality into building a comprehensive member experience, according to Equip.
Combining insights around size and growth rates provides a better understanding of the super fund landscape. For some the future is certain and bright. For others there is uncertainty and work ahead.
41 per cent of semi-retirees worry about money every week because they are not in the ‘groove’ of retirement, a study from Fidelity and MYMAVINS has found.
Adviser platform HUB24 has launched an additional ESG ratings functionality on its platform, providing advisers with access to data-driven insights and reporting metrics for selected managed funds and over 350 Australian-listed securities.
HSBC Australia has partnered with the Australian Institute of Superannuation Trustees (AIST) to help collaborate and inform members of key industry trends and insights that can assist with international mandates.
Praemium has seen inflows cut in half during the first half of the new financial year with half-yearly net inflows dropping 53 per cent from $2.19 billion to $1.02 billion.
Treasury has released a consultation paper outlining two complementary proposals that would provide for the release of a child sex abuser’s superannuation for the purpose of satisfying unpaid compensation claims.
Netwealth has seen a 10 per cent boost in funds under administration despite negative market movements.
The net inflow profile of the industry throws up a few surprises. AustralianSuper dominates industry cash flows while HUB24 has the highest growth rate. Many funds have work to do.
Cost of living issues faced by retirees due to inflation dominate adviser enquiries to BT’s technical team, which has fielded enquiries regarding changes to superannuation contributions. The concerns highlight the issues super funds need to engage on with their own members.
The changing regulatory landscape and the breakdown of traditional sources of new members means super funds face greater competition for member growth, and the quality of a fund’s offer and member experience will be key factors.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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