POWERED BY MOMENTUM MEDIA
Wilson sees post-election hope for franking credits
One of the mainstays of the campaign opposing the Australian Labor Party’s (ALP) move to remove refundable franking credits, fund manager Geoff Wilson, has signalled a continuation of the fight even if Bill Shorten becomes Prime Minister.
In a letter to shareholders, the chair of Wilson Asset Management said it was still possible the ALP’s franking credit changes would be blocked in the Senate.
“Regardless of which political party wins the upcoming Federal Election, we hope that Labor abandons or dramatically changes this inequitable policy,” he said.
“We believe there is cause for hope. For example, nine of the 10 crossbench Senators have committed to blocking the changes if they reach the Senate in their current form and two have adopted our term for the policy – “retirement tax”.
Wilson said his company’s campaign against the proposal to remove franking credit refunds “had secured the policy’s position as a key election issue and ensured it has attracted the scruinty it deserves”.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
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
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
