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Showing 161 - 170 of 2133 results for "APRA"

Another Diversa offering bites the dust

JAMIE WILLIAMSON  |  TUESDAY, 31 JAN 2023
... DIY Master Plan is a solution for financial advice groups looking to offer their own superannuation product. According to APRA data, as at December 2021 the fund had about $927 million in funds under management and 3124 members. These members have now ...

Super funds must unlock diversification opportunities: HSBC

ANDREW MCKEAN  |  TUESDAY, 31 JAN 2023
... increasingly turning to offshore investment opportunities to generate attractive returns and diversify their assets. Evidently, APRA data shows that funds hold 45% of investments offshore, up from 30% a decade ago. As the mandatory Superannuation Guarantee ...

Summerhayes named Zurich chair

CHLOE WALKER  |  MONDAY, 30 JAN 2023
Former APRA chair Geoff Summerhayes has been appointed as chair of Zurich Financial Services Australia (Zurich). Summerhayes boasts an impressive track record in financial services as former executive board member of APRA and as chief executive of Suncorp ...

APRA slaps conditions on Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 JAN 2023
... RSE licence, flagging serious concerns with Diversa's ability to manage risks and deliver quality outcomes for members. APRA explained that the new conditions are designed to address concerns related to the adequacy of Diversa's resources to ...

Brighter Super revamps board structure

JAMIE WILLIAMSON  |  TUESDAY, 24 JAN 2023
Having maintained a 15-person board to oversee the integration of Energy Super and Suncorp's superannuation business, Brighter Super kicked off 2023 with a new board composition including a new appointment. As of this month, Brighter Super's ...

Consultation opens on NALI amendments

CASSANDRA BALDINI  |  TUESDAY, 24 JAN 2023
... provisions relating to superannuation funds. It explained a potential change to self-managed superannuation funds and small APRA-regulated funds would be amending both to a factor-based approach. If amended, both would have an upper limit on the amount ...

Treasury working on QAR, super tax concessions

CASSANDRA BALDINI  |  THURSDAY, 19 JAN 2023
... super balances of $5 million and over have not been nominated and and it has not decided to "scrap" concessions. According to APRA, just 4% of super fund members (43,000 people) aged between 65-69 have more than $1 million in their superannuation account. ...

Top 10 issues for super funds in 2023: KPMG

ANDREW MCKEAN  |  TUESDAY, 17 JAN 2023
... Australian market. Climate risk and ESG will be a key concern for super funds, given the long-term nature of the industry. APRA has emphasised this by updating its Prudential Standard SPS530 Investment Governance, calling for super fund to undertake ...

Strengths and weaknesses in DC systems: Comparison

ANDREW MCKEAN  |  FRIDAY, 13 JAN 2023
... are also multiple committees overseeing financial services, leading to regulatory and legislative arbitrage. Contrastingly, APRA has the authority to supervise institutions across banking, insurance and super. Unlike the US, fiduciary duty is also regulated ...

AvSuper provides merger update, drops admin fees

JAMIE WILLIAMSON  |  TUESDAY, 10 JAN 2023
... pay $26 plus 0.17% of their account balance. The reduction came as the fund's MySuper option was highlighted by the annual APRA heatmaps for its high total fees. The total fees disclosed on a $50,000 account balance as at 1 October 2022 were 1.32%. Finally ...