POWERED BY MOMENTUM MEDIA
FTSE Russell launches new index for Australian super industry
FTSE Russell, which is owned by the London Stock Exchange (LSE), has launched a new index series, the FTSE All-World ex Australia Net Tax (Super) Index Series, specifically for the Australian superannuation industry.
The new index series, which was developed with Qantas Super, would be aimed to support the superannuation industry’s focus towards greater transparency and more accurate measurement of performance.
It would calculate net returns for global equities after deducting both capital gains tax and withholding tax.
The withholding tax rates reflected the Australian superannuation tax treaty rates that applied to each market.
The index was expected to enable funds to accurately measure after-tax investment performance against an after-tax industry benchmark that was representative of the tax in superannuation member returns.
FTSE Russell’ managing director, Jessie Pak, said: “FTSE Russell has a strong track record of calculating net-of-tax total return indexes for different investor types, the newest of which is for Australian superannuation funds.
“Providing our clients with indexes that take into consideration superannuation tax rates reduces the tracking error between a fund and the index, therefore providing a more accurate measure of the fund’s performance.”
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(%)
