POWERED BY MOMENTUM MEDIA
Catholic Super MySuper ready
Catholic Super is MySuper-ready after being approved by the Australian Prudential Regulation Authority (APRA) to offer a default superannuation product under incoming reforms.
The fund will launch MyCatholicSuper on 1 October 2013 ahead of the 1 January 2014 deadline.
Although some funds have had to rejig their products in order to meet the regulator's MySuper requirements, Catholic Super said it had been able to retain its current default model.
It said this represented an independent endorsement that its employers and members were already benefitting from high quality, low cost superannuation.
The industry fund said it would contact members in the lead-up to its MySuper launch and urged employers and employees to call its member services line.
It is one of a number of industry funds that have gained a MySuper licence in the lead-up to the implementation of new default arrangements. APRA's most recent data indicated that there has been a steady increase in allocations to default funds, with 42.9 per cent of total trustee assets held in the default investment strategy as of 30 June 2012.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald 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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
