No proof of member benefit: APRA on super fund spendsBY JAMIE WILLIAMSON | TUESDAY, 26 OCT 2021 12:44PMAPRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit. Related News |
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John Burke
GLOBAL CHIEF EXECUTIVE OFFICER
BENNELONG FUNDS MANAGEMENT LTD
BENNELONG FUNDS MANAGEMENT LTD
Bennelong Funds Management is like a mainline into the jugular of Australia's financial advice sector, with more than 6500 advisers channelling capital to its funds. But its global chief executive John Burke says the job's not done yet. Andrew McKean writes.
About time. It's inconceivable that sponsoring a footy team is going to provide a return to members. Will members have recourse to demand those funds are returned? After all, reading this article suggests that the trustees have a lot to answer for.
How about naming the offenders ?? I reckon i can guess three off the top of my head