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Admin issues top AFCA complaints
Not unlike the experience of the Superannuation Complaints Tribunal (SCT) the majority of complaints dealt with by the Australian Financial Complaints Authority (AFCA) have been around account administration.
The latest data released by the AFCA reveals that account administration headed the list of issues dealt with at 49.7%, followed by group life insurance issues (37.6%) and superannuation death benefits distribution at 11.3%.
The AFCA data pointed to 2,220 superannuation complaints having been progressed, with 1,813 having been closed for the period.
Hardly surprisingly, the larger the organisation the more complaints it appeared to receive, with AustralianSuper topping the list, followed by REST, then AMP Super, Nulis Nominees and BT Funds Management.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
