POWERED BY MOMENTUM MEDIA
APRA levies up, again
The superannuation sector is facing a rise in the money it contributes to the Financial Institutions Supervisory Levies, also known as the APRA levy.
However, funds with asset bases between $50 million and $50 billion will pay lower levies in the new financial year.
According to information released by the Federal Treasury, the superannuation sector will be paying $62.2 million in the new financial year, compared to $58.4 million paid in 2014/15.
The Treasury and the Australian Prudential Regulation Authority have released a discussion paper on the levies.
The document reveals the total funding required under the levies in 2015/16 for all relevant Commonwealth agencies and departments is $230.0 million which represents a $1.3 million (0.6 per cent) increase over 2014/15.
Recommended for you
Deloitte Access Economics has raised concerns about the government’s recent changes to the Future Fund’s investment mandate, questioning the necessity and implications of the reforms.
An industry body has praised the strong backing from institutional investors for Australia’s transition to renewable energy.
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.
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.
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(%)
