POWERED BY MOMENTUM MEDIA
ASFA welcomes short-form PDS regulations
 |
| Pauline Vamos
|
New regulations on short form Product Disclosure Statements (PDSs) are an important step forward to a new era in disclosure for fund members, according to the Association of Superannuation Funds of Australia (ASFA).
“Fund members can look forward to an eight-page PDS rather than 80,” said ASFA chief executive Pauline Vamos.
“This move, and the associated incorporation by reference provisions, will encourage and enable funds to provide information online that reflects the needs of different members and their stage of life. This is an enormous step to integrating education, advice and disclosure.”
Funds will be able to implement the changes in a cost-effective way with appropriate consumer research within the two-year transition period to June 2012, according to ASFA.
Along with the upcoming regulatory changes, the final Cooper Review report and the Government’s response to Ripoll, the short form PDS regime helps provide a framework and future plan for the industry to meet ongoing changing member needs, Vamos said.
“It will also equip the industry to continue its investment in the whole of the Australian economy for the long-term growth of working Australians’ retirement incomes,” she said.
AUTHOR
Mike Taylor
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
