POWERED BY MOMENTUM MEDIA
Digging, digging, always digging for dirt
Rollover recognised that there would be those inside TWUSuper who would like to hope that the events of the Trade Union Royal Commission are now in the past and gathering dust.
But not if Victorian Liberal backbencher and chair of the House of Representatives Standing Committee on Economics, Tim Wilson, has his way.
You see it might be over half a decade since the Royal Commission into Trade Union Governance and Corruption was finished, but Wilson reckons there’s still political mileage to be gained in the relationship between the Transport Workers Union and TWUSuper.
Which is why Wilson dredged up the evidence that TWU ‘Superannuation Liaison Officers’ were paid $150,000 a year to encourage members to sign up to TWUSuper.
But Wilson went further in asking the Australian Securities and Investments Commission (ASIC) whether those same Superannuation Liaison Officers might have also been providing unlicensed financial advice.
The answer from ASIC was that there was not enough evidence to suggest any advice was actually provided but it will probably satisfy Wilson that the regulator said it would consider whether it should make further enquiries.
It would seem that there is many a fine tune played on an old fiddle.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
Recommended for you
With rainy weather abound in Sydney, Rollover was sat in front of his TV watching the smorgasbord of niche documentaries free-to-air has to offer.
As a history buff, Rollover is well-aware of the importance of the role the vanguard plays in a military force, as the leader at the front of battle.
Now that crypto investing is mainstream, with Rest Super announcing it will put a portion of its funds into it, Rollover wonders whether his grandkids will think he is hip when he shows them his crypto balance in his new digital wallet.
Rollover is almost as fascinated by superannuation fund mergers as the deputy chair of the Australian Prudential Regulation Authority (APRA), Helen Rowell.
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
31.71 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.27 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.22 3 y p.a(%)
