POWERED BY MOMENTUM MEDIA
MetLife/Super Review survey: SMFSs should come under APRA jurisdiction
Self-managed superannuation funds (SMSFs) should come under the jurisdiction of the Australian Prudential Regulation Authority (APRA) instead of the Australian Taxation Office (ATO).
That is the bottom line of the latest MetLife/Super Review survey conducted during the Conference of Major Superannuation Funds (CMSF) in late March.
Asked whether SMSFs should be subject to the same regulatory environment as other funds, 76.1 per cent of respondents answered yes.
On another key issue, survey respondents also overwhelmingly supported financial advisers working within superannuation funds being subject to the same compliance rules as Independent Financial Advisers (IFAs).
Asked the question about differing compliance levels, 96.3 per cent of survey respondents said superannuation fund planners needed to be treated exactly the same as IFAs.
AUTHOR
Mike Taylor
Recommended for you
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.
As institutional investors grapple with shifting sentiment towards US equities and fresh uncertainty surrounding tariffs, Australia’s Aware Super is sticking to a disciplined, diversified playbook.
Market volatility continued to weigh on fund returns last month, with persistent uncertainty making it difficult to pinpoint how returns will fare in April.
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(%)
