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Hume reiterates call to end super culture wars
Some industry superannuation funds have been just as guilty of investment under-performance as some retail funds, according to the Assistant Minister for Superannuation, Financial Services and Financial Services Technology, Senator Jane Hume.
Interviewed on radio, Hume reiterated her call for an end to the culture wars between the various types of superannuation funds while acknowledging that while some industry funds had performed exceptionally well, there were also some industry funds which underperformed.
“The most important thing now is that we put aside the sector wars, whether it's between industry or retail, whether it's between self-managed super funds (SMSFs) and industry and retail super, and say, right, well, what's in the best interest of members?” she said. “That's what we're all about, the best member outcomes that we can get to.”
Hume also signalled that the Government had no intention of altering the existing time-table for lifting the superannuation guarantee, noting that it had been legislated and there was no intention to alter that approach.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
