TelstraSuper returns 9.6pc in FY24 for default MySuper
TelstraSuper has posted a 9.6 per cent return for its MySuper Growth option in FY24, which is the investment option that applies to all members below age 50 who do not make an investment choice.
Aware Super reports 11.02pc FY24 MySuper return
Aware Super has reported an 11.02 per cent return for its High Growth accumulation option in FY24, the default members aged 55 and under with the fund’s MySuper product, which has a lifecycle design.
AustralianSuper delivers 8.46pc MySuper return in FY24
The nation’s largest superannuation fund, AustralianSuper, has returned 8.46 per cent in its MySuper Balanced investment option, and 10.2 per cent for High Growth in FY24.
Sequoia restructures reporting lines, announces staff reduction
Sequoia Financial Group will streamline its divisional structure from four to two reporting divisions, as well as reduce headcount by 10 per cent.
iExtend gains AFSL
Life insurance policy extender iExtend has gained its AFSL after ASIC accepted a court enforceable undertaking from the business to apply for a license earlier this year.
Consumer group calls for better scam protection from super funds
Super Consumers Australia warned that more work needs to be done from funds to mitigate risks of super scams, as the advocate group’s recent survey found 81 per cent of Australians want their funds to provide more active protection.
Australian Ethical appoints Fiona Reynolds to super board
Australian Ethical has appointed Fiona Reynolds, former CEO of UN-backed Principles for Responsible Investment, to its super board.
‘Astonishing and highly concerning’: Funds still lag on RIC response
Super funds claim uncertain advice regulation is holding them back from fulfilling their Retirement Income Covenant obligations, as regulators once again take them to task for an underwhelming response. The Conexus Institute notes funds have yet to get their act together on collecting enough member data to properly inform a strategy.
‘No evidence’ of further unauthorised access in Iress breach
Iress has concluded its internal investigation into the unauthorised access of Iress’ user space on GitHub as first announced on 13 May 2024.
Australia has world-class fund practices, but one Kiwi does it better
Australian sovereign and super funds will be pleased to find out that time spent on building good investment practices has not gone unnoticed, as a new report hails them as global leaders when it comes to having rigorous governance, sustainability and resilience frameworks. But they still have something to learn from their counterpart across the ditch, NZ Super.
HESTA MySuper delivers 9.1pc return in FY24
The $83 billion HESTA has returned 9.1 per cent for its MySuper Balanced Growth option in the 2024 financial year, surpassing the 7.62 per cent annual return in the past decade.
REST MySuper returns 8.67pc in FY24
Retail workers industry fund REST has posted an 8.67 per cent return for its default MySuper product in the 2024 financial year. The product has had a 6.97 per cent return per annum in the past decade.
