While the Financial Advice Association Australia said it supports a performance testing regime “in principle”, it holds reservations about expanding this scope to retirement products.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Ninety finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
AIA protects the financial health & welfare of Australians by offering life and disability insurance solutions to the Australian corporate market.
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.