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Super funds squander member money: BraggBY KARREN VERGARA | THURSDAY, 24 SEP 2020 12:25PM
Senator Andrew Bragg is calling for greater scrutiny of how superannuation funds spend members' money, slamming the system that has enjoyed three decades of unquestioned opacity.Read more: Superannuation, Andrew Bragg, ASFA, Association of Superannuation Funds of Australia, Daniel Mulino, Financial Standard, Industry Super Australia, ISA, Royal Commission, Sole Purpose Test
Lifecycle MySuper was a better bet than single strategy default funds for members below 40 years of age in FY21 as the equity markets rebounded after COVID, according to Rainmaker Information.
The advice group has appointed a head in Queensland, reporting to chief executive Terry Dillon.
Australia's exchange traded product market reached $115 billion at the end of June 2021, increasing 76% in 12 months - but according to Rainmaker research, only a small portion of that growth came from performance.
The chair of Clime Investment Management and one of its shareholders are calling for the removal of long-serving executive Neil Schafer.
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