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Showing 41 - 50 of 559 results for "MySuper Product"

HESTA generates 9.59% investment return

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
HESTA has delivered a 9.59% return for its balanced growth investment option. The balanced growth investment option, which most of the industry fund's one million members are invested in, was buoyed by strong equity market performance, bolstered by ...

MySuper products bounce back: Data

JAMIE WILLIAMSON  |  WEDNESDAY, 5 JUL 2023
The recent surge in equities should see MySuper products return an average of about 9% for FY23, according to Rainmaker Information - a finding supported by those funds that already released figures. Modelling by Rainmaker shows superannuation returns ...

More assets held in Choice over MySuper: APRA figures

ANDREW MCKEAN  |  MONDAY, 3 JUL 2023
More member assets are held in Choice products than in MySuper options, according to quarterly superannuation industry statistics by APRA. As of March 31, Choice products held $1.09 trillion of the total member assets held in APRA-regulated funds ($2.1 ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
... heatmap results found that one in five Choice options underperformed their benchmark and had higher fees than the MySuper product average. "Testing these products is urgently needed," he said. "But ISA believes applying one benchmark across the sector ...

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
... Insignia Financial and OnePath Custodians will pay $1.5 million for failing to direct member contributions to a MySuper product. APRA has fined OnePath Custodians $1.46 million after it was made aware 125 default member contributions were not directed ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
The Financial Advice Association Australia (FAAA) has criticised Treasury for neglecting to consult on draft Superannuation Performance Test reforms. FAAA chief executive Sarah Abood voiced concerns regarding the proposal and process of the Performance ...

APRA consults on approach to combining product histories

JAMIE WILLIAMSON  |  THURSDAY, 20 APR 2023
... the upcoming 2023 performance test, will relocate existing guidance relating to within-product changes in the MySuper product information paper into a legal instrument, removing the need for APRA to make individual determinations for every affected product. ...

Brighter Super forges ahead with SFT

KARREN VERGARA  |  MONDAY, 17 APR 2023
... assets over the next few years. Brighter Super won Money magazine's Best of the Best Award in 2023 for Best-value MySuper product. The group unveiled a new board line-up of 15 members at the start of the year. More than 100 SPSL staff will move to Brighter ...

YFYS recommendations not enough: AIST

JAMIE WILLIAMSON  |  THURSDAY, 6 APR 2023
... others, which is particularly relevant if they have received advice from unscrupulous providers to switch from a MySuper product to a high fee, underperforming Choice product." She added that more needs to be done to ensure members can't be stapled to ...

Consumer interests prioritised in YFYS review

ANDREW MCKEAN  |  WEDNESDAY, 5 APR 2023
Industry groups have welcomed the Your Future, Your Super (YFYS) review's focus on consumer interests by targeting poor performing super funds. Responding to yesterday's release, Financial Services Council (FSC) commended the government for ...