POWERED BY MOMENTUM MEDIA
Technology creates distribution opportunities
Industry funds should use technology to forge new distribution channels, according to Sunsuper chief executive Tony Lally.
Lally said the industry funds movement could be challenged by a different government next year which might do away with the current awards system.
"For us it's really about cementing our position in the old system," he said.
But the advance of technology could open up new distribution channels for industry funds to remain relevant and competitive, he said.
While SuperStream was a given technology requirement, it was the technology requirements beyond that that would make the most dramatic changes - and they centred on members' behaviours, he said.
The requirement of funds to build up bases of capital showed an evolution of the industry funds movement from a superannuation fund to a superannuation business, he said.
Sunsuper would restructure its staff, Lally said. This would result in fewer people pushing paper and more people giving advice over the phone as member demand for advice rather than just information increased, Lally said.
He said the industry funds movement needed to integrate systems to communicate with each other and members and compete within the current environment.
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
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.
The Association of Superannuation Funds of Australia (ASFA) has called for the incoming government to prioritise “certainty and stability” when it comes to super policy.
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(%)
