POWERED BY MOMENTUM MEDIA
TWUSUPER receives MySuper approval
TWUSUPER's balanced default investment option will become its MySuper investment option following approval from the Australian Prudential Regulation Authority (APRA).
TWUSUPER chief executive Debora Jackson said the change should not affect members as it had been well placed to meet APRA's criteria for MySuper.
"For 30 years TWUSUPER, the industry fund for the transport and logistics industry, has delivered its members a strong service offering, with low fees, no commissions, and of course, all profits to members," she said.
"And as our MySuper product is the same balanced option product that TWUSUPER has always offered, there will be no change for our members who are in the default option."
The fund will launch a new ‘Toolbox' for employers this week, which allows them to keep up with Stronger Super changes.
It has over 130,000 members with more than $3 billion under management.
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
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
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(%)
