Super fund documents unreadable: StudyBY JAMIE WILLIAMSON | FRIDAY, 29 OCT 2021 12:44PMThe documents produced by Australia's largest superannuation funds have performed dismally in an analysis of readability, with an average score of 45.6 out of a possible 100. Related News |
Editor's Choice
Corporate, governance issues fuel whistleblower tipoffs: ASIC
The corporate regulator received nearly 2000 tip offs from whistleblowers in the last financial year, a whopping 183% jump annually, the majority of which relate to corporate and governance issues.
Platinum awards mandate, changes fund name
Platinum Asset Management has awarded a mandate to a US-based investment manager to oversee investment capabilities in a 20-year-old fund, simultaneously altering the name to reflect the update.
Workplace mental ill-health can cost Australia $27bn: Report
Workplace mental health issues are directly costing the Australian economy $12 billion per annum in lost gross domestic product (GDP), with the cost set to rise by more than 125% over the next 15 years in excess of $27 billion a year.
ASX turns up heat on Clime Capital following KPMG scrutiny
The ASX has also raised concerns over Clime Capital's valuation of its unlisted assets portfolio and the qualified opinion that was eventually handed down by its auditor KPMG.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Of course, none of them are understandable to Mr, Mrs or Ms Average. Why not? Because all fund documents - especially Product Disclosure documents - have to be COMPLIANT to ensure they make ASIC requirements - particularly to avoid 'non-disclosure'.
So you get umpteen pages of long-winded explanations of nausea-inducing and largely irrelevant detail. Well, ASIC, you can't have it both ways. Even if you think you can.