Niche super funds cooperate to avoid mergingBY JAMES FERNYHOUGH | FRIDAY, 8 NOV 2013 12:25PMAs compliance costs for super funds skyrocket, small super funds are cooperating to find ways of achieving scale without having to merge, according to IFAA trustee services manager Michael Corcoran. Related News |
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Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
MySuper is driving a homogenous product offering and small funds will need to fight harder to maintain their niche. Working collectively to drive efficiency be that through compliance or investing will be part of the solution. Those that survive will also have to differentiate their product and align it to their specific fund member demographics. A default option using the MySuper next generation Lifecycle exemption and factors beyond just age is the way forward. This allows for optimisation of investment of risk profiles using members projected retirement outcomes, higher member satisfaction and hence an ability for these funds not only to survive in a MySuper environment but thrive. They just need to be leaders in adopting this Australian innovation rather than followers!