POWERED BY MOMENTUM MEDIA
APRA looking at fund liquidity
The Australian Prudential Regulation Authority (APRA) is taking a close look at the liquidity of superannuation funds.
APRA member, Helen Rowell has confirmed to Senate Estimates this week the regulator is "progressively having a deep-dive look" at how the industry is implementing new and heightened requirements.
"We started with conflicts, management, and insurance. We are now moving to investment governance with a particular focus on liquidity," she said.
Acting committee chair, Tasmanian Liberal Senator, David Bushby asked whether APRA required funds to have daily unit pricing policies so that it could ensure that members who stayed in funds that faced asset devaluations were not disadvantaged by being left in funds with substantial write-downs.
Rowell said the regulator did not have requirements for daily unit pricing but that the vast majority of the superannuation industry had moved to daily unit pricing.
"But there are still some participants in the industry that are on less than daily unit pricing," she said.
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
