POWERED BY MOMENTUM MEDIA
AIST supports fraud prevention
The Australian Institute of Superannuation Trustees (AIST) plans to work closely with superannuation funds to enhance fraud communications with soon-to-retire members or those switching to the self-managed super fund sector.
The announcement comes as the Australian Crime Commission embarks on a nation-wide mail-out in order to alert super members to the possibility of fraud.
"For many people, this is the first time they have a relatively large amount of money to invest. They are looking for advice and can be vulnerable to fraudsters promising retirement riches," AIST chief executive Fiona Reynolds said.
Reynolds said it was important to remember that Australian Prudential Regulation Authority (APRA) funds were not at risk.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
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(%)
