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Showing 61 - 70 of 217 results for "Performance test"

Meat industry super fund rebrands

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... a net return of 11.2% in the last financial year. Its Shares Option (formerly High Growth) failed the latest performance test by more than 0.50% per annum. "Our work isn't done; we believe there are more people in Australia that we can help. People in ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
As the likes of Crescent Wealth and Insignia Financial respond to the 2023 superannuation performance test results, the Financial Services Council (FSC) and Super Consumers Australia have said the government must still do more to ensure members in underperforming ...

AMG Super terminates MySuper offer

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
AMG Super is getting out of MySuper as its product fails the Your Future, Your Super performance test for a third time. AMG Super has announced to members that it will close its MySuper product early next year. The notice was issued to members on August ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
Of the 97 products to fail this year's superannuation performance test, 96 are trustee-directed products - 75% of which are issued by the same four trustees. Released this morning, the 2023 performance test marks the first time trustee-directed ...

APRA finalises framework for MySuper products

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... products. "This ensures that any changes to the product are reflected in the performance history used in the performance test," it said.

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
Industry Super Australia deputy chief executive Matthew Linden says the fact the amended superannuation performance test doesn't look at retirement products is a cause for concern. In the latest episode of the Financial Standard podcast, Linden said ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
As the government unveils a raft of updates to the superannuation performance test, due to take effect in August, some trustees are worried that it subjects Choice products to a rigid criterion. As previously flagged, all products will be subject to ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
The wealth management industry has broadly welcomed the bulk of the Quality of Advice Review recommendations Labor will prioritise, with many agreeing that the reforms will fix financial advice and ultimately benefit consumers. In releasing the first ...

Heatmaps drive efficiencies, more consolidation: Cole

CHLOE WALKER  |  FRIDAY, 2 JUN 2023
Speaking at a standing committee this morning, deputy chair Margaret Cole noted that the heatmaps and performance tests have created a more efficient and transparent superannuation system that will ultimately drive more consolidation. While that might ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... 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 Test. "It is ...