POWERED BY MOMENTUM MEDIA
More MySuper approvals
Sandhurst Trustees, which forms part of Bendigo Wealth, has been granted authorisation by the Australian Prudential Regulation Authority (APRA) to issue a MySuper product.
Bendigo Wealth executive John Billington said it had already been receiving enquiries about a MySuper offering from clients.
"Younger Australians and Gen Y's in particular often don't comprehend that their superannuation is going to be one of the most sizeable assets that they will ever have.
"We are firmly of the belief that our MySuper offering is well suited to those who are not yet ready to engage with their superannuation," he said.
Billington said that once super members were ready to engage, he was confident the bank would have a solution for them.
Commonwealth Bank Group Super has also announced it will enter the MySuper market following approval by APRA. It said it will simply rebadge its Accumulation Plus Mix 70 investment option and launch on 1 October.
AMP announced it was MySuper-ready yesterday and has plans to launch two products - a lifecycle and a balanced diversified option - from 1 January 2014.
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
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.63 3 y p.a(%)
3
Fidante Credit Suisse Global Private Equity
32.16 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
5
Plato Global Alpha A
27.76 3 y p.a(%)
