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Showing 61 - 70 of 2121 results for %22APRA%22

Hostplus finalises merger with Maritime Super

ANDREW MCKEAN  |  MONDAY, 4 SEP 2023
... and evolution to becoming a lifetime fund of choice for an increasing number of Australians," Elia said. Notably, recent APRA data shows that total superannuation assets grew by 7.6% for the year to June 2023, while Hostplus' FUM increased by 16.2% ...

Most trustees pass Canva valuation test: APRA

KARREN VERGARA  |  MONDAY, 4 SEP 2023
Most superannuation funds are appropriately valuing their investments in Canva, according to APRA, which used its high-profile and whipsaw valuation in 2022 to see if they are abiding by its unlisted asset valuation requirements. Canva was at the forefront ...

AMG Super terminates MySuper offer

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
... members that it will close its MySuper product early next year. The notice was issued to members on August 25. Five days later, APRA notified AMG Super it had failed the performance test for the third time. AMG Super first failed the test in 2021. The ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
... this morning, the 2023 performance test marks the first time trustee-directed products have been included in the test, with APRA assessing 805 in total. Of these 12% failed - but they represent 27% of the total funds under management in trustee-directed ...

ART, AvSuper closer to merging

KARREN VERGARA  |  MONDAY, 28 AUG 2023
... of Understanding with Alcoa Super in March. It was one of many funds with less than $10 billion in AUM that was flagged by APRA to have sustainability issues in March 2022. The Oracle Superannuation Plan transferred all its members to ART on April 30 ...

Longevity risk is big super's biggest failure: Podcast

CASSANDRA BALDINI  |  MONDAY, 28 AUG 2023
... reviewing 15 super fund trustees, collectively representing the superannuation of over five million Australians, ASIC and APRA identified significant shortcomings in the system. The regulators had three overarching observations; a greater emphasis on ...

Super assets continue to climb: APRA

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
APRA has published its Quarterly Superannuation Performance and Quarterly MySuper Statistics report, revealing surging growth in the superannuation sector. Total superannuation assets increased by 7.6%, reaching $3.54 trillion in the year to June, compared ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... the operation of the instrument," the regulator said. The deadline for feedback on the proposal is August 25. Meanwhile, APRA released its final instrument exempting certain RSE licensee directors from the change of control and ownership provisions of ...

APRA finalises framework for MySuper products

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
APRA has released a technical determination, aiming to standardise the amalgamation of MySuper product performance histories. The announcement marks the culmination of consultations held in April 2023. The Superannuation Technical Determination No.1 ...

Liquidate $250bn Future Fund, says think tank

CASSANDRA BALDINI  |  THURSDAY, 10 AUG 2023
Given Australia's economic status, the government has been urged to liquidate the $250 billion Future Fund and pay down its $896 billion debt. According to a paper published by the Centre For Independent Studies, penned by Dimitri Burshtein, the ...