Senator Andrew Bragg has put forward reforms to protect Australia’s retail investors from the growing influence of superannuation funds, such as limiting their ownership in public companies.
The complaints authority has reported a 20 per cent rise in complaints about claim delays across financial products last year, including insurance in super, as politicians call on super funds to improve their practice.
The $75 billion fund has recorded a strong return of 9.5 per cent for its flagship Core Strategy investment option during 2023 although it notes considerable risks to markets in the year ahead.
The acting chief executive of Active Super, Donna Heffernan, has detailed the progress being made in the fund’s merger with Vision Super.
SuperRatings has revealed the estimated annual performance of balanced superannuation funds for 2023, welcoming the “strong return to form” after losses in the previous year.
Super Review would like to wish all our readers a Happy New Year and looks forward to bringing you all the latest news in 2024.
The superannuation fund is expanding its investment exposure to industrial property through a $1 billion partnership with Barings, a global investment manager.
AvSuper has updated the investment objectives of two options in light of improved expected long-term returns and made changes to its advice provision to members.
Coming to the end of 2023, Super Review looks back on what marked a busy year for the industry, including a number of noteworthy consultations and legislation.
ASIC has sentenced former director Mudasir Mohammed Naseeruddin over four years imprisonment for ‘egregious conduct’ and dishonestly obtaining client funds from six investors’ SMSF accounts.