POWERED BY MOMENTUM MEDIA
ASFA welcomes capital recycling model
The Association of Superannuation Funds of Australia (ASFA) has welcomed the Federal Government's announcement of an incentivised capital recycling model to invest in infrastructure.
Federal Treasurer Joe Hockey said the State Treasurers were on board for the initiative.
ASFA CEO Pauline Vamos said the model would give incentive for superannuation funds to invest in infrastructure by offering a pipeline of investable projects.
"There's no doubt superannuation funds have an appetite to invest in infrastructure; however investment has often been stifled due to a lack of suitable, available projects," Vamos said.
"In addition, recycling this capital into new projects, where investors are less likely to take on the risk, will help fund the nation's infrastructure needs."
ASFA's approval comes after Hockey announced the Government would provide an asset recycling pool where it will provide an additional 15 per cent of asset sale value from states to states.
This is conditional on the states using the fund for new productive infrastructure investments in addition to what they have already committed.
Recommended for you
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
