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The top investment funds over the past year
The top-performing investment funds for the year ending March 31 have been announced, with all being ETFs focused on international equities.
AFCA finds more Dixon Advisory victims
The Australian Financial Complaints Authority added 544 more Dixon Advisory-specific victims to total 2492 complaints at the end of April, which will further exacerbate the levy financial advisers must pay.
Senior Cbus investment manager exits
Cbus' head of total portfolio management has left the fund, while a former JANA executive has joined its infrastructure team.
Quality of retirement does not depend on super balance: Bragg
The Senate Economics Committee has released its interim report into using super for housing.
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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
Anyone who has works in the larger super fund sector knows well the effect of reserving accounts, crediting rates and actual results. This is their latest stab at the fact that as a general rule people have lost trust in the lack of transparency of big funds, along with concerns around estate planning and related matters. Crediting rates are dubious at the best of times.
Now with group insurance premiums being hiked considerable the large funds are struggling to retain members with any sizeable superannuation savings.
The cost that is never taken into account with these types of calculations - and the one the ATO can never ascertain - is the cost of the trustees/members time in running and maintaining an SMSF.
If a tradesman or professional who charges their clients $100 per hour spends 1 hour per week on the SMSF, this has cost them $5,200 per year. This will never be reported in the retruns of the fund. In fact the member/trustee will never even consider this when they look at the costs.
Of course, costs are only one consideration but people at least need to be honest with themselves with the cost aspect.