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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.
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The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
HESTA has delivered a 10.18 per cent return for its MySuper Balanced Growth option in the 2024–25 financial year, marking the third consecutive year of returns above 9 per cent for the $80 billion industry fund’s default investment strategy.
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