POWERED BY MOMENTUM MEDIA
Strong support for independent super directors
A solid majority of superannuation fund executives and trustees support the appointment of at least one-third independent directors to the boards of superannuation funds.
A survey conducted by Super Review during the Association of Superannuation Funds of Australia (ASFA) conference in November has revealed that only around a third of respondents believe super fund governance structures should be left as is.
Asked how fund boards should be structured, only 32.3 per cent of respondents believed things should be left as is, while 38 per cent believed there should be one-third independent directors and 29.5 per cent said there should be half independent directors.
The survey, sponsored by Pillar Administration, suggested that respondents had few qualms about super fund directors spending long periods in office, with nearly half (47.8) believe a 10 year term was appropriate, while 42.2 per cent believed five years was appropriate.
Recommended for you
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.
Assistant Treasurer Stephen Jones has defended the government’s plan to modestly cut tax concessions for Australia’s wealthiest superannuation accounts, saying it is a “fairer outcome”.
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
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
