The Association of Superannuation Funds of Australia (ASFA) has welcomed the Australia Prudential Regulation Authority’s (APRA’s) superannuation return numbers which show the average return for APRA-regulated funds was 6% in the June 2020 quarter, reflecting over $100 billion in investment returns in the quarter.
Dr Martin Fahy, ASFA chief executive, said the data showed that Australia’s retirement savings system has proved resilient even in the face of adversity.
“Ordinary Australians saving as a group in APRA regulated funds get the benefits of scale, diversification of risk, and the best investment minds looking after their savings,” Fahy said.
“As a result, they can access a range of asset classes, support the important recovery in our economy and continue to outperform so called sophisticated investors.
“Hard-working Australians can be confident that they are getting a fair go, participating in the economic recovery and that even with modest balances they can access the same opportunities which historically have been reserved for the wealthy.
“Investing as a group allows savings to be pooled and deployed effectively, both for long-term returns to workers and for the economy.”
ASFA said it believed today’s APRA super return numbers reinforce the importance of preserving the legislated increase in the superannuation guarantee (SG) to 12%
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.