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SuperBrief Independent & Concise

Issue #8 of 2015: Friday, 27th February

FINANCIAL SERVICES COUNCIL

Sally Loane, chief executive of

the Financial Services Council

(FSC) delivered her inaugural

speech at the Deloitte

Leadership Series. The speech

covered various topics on the

state of the financial services

industry and welcomed the

impending Treasury tax white

paper process.

Source: Financial Services Council

APRA REPORTING

The Australian Prudential

Regulation Authority (APRA)

recently published its MySuper

Statistics report for the

December 2014 quarter. This

report ranks the 116 registered

MySuper products by their fees

and net returns.

The report found that the best

net investment return in the

December quarter was Emplus

MySuper product with 5.25 per

cent and the cheapest was

Bendigo MySuper at 20 basis

points (bps).

Source: Super Review

SELF MANAGED SUPER FUNDS

Details behind the Self

Managed Superannuation Fund

(SMSF) Certified Practitioner

accreditation have been

published by the SMSF

association.

The program is currently being

piloted with an expected full

launch in June this year. It will

be available to all SMSF

Association members.

Source: Financial Standards

INDUSTRY SUPER FUNDS

EquipSuper has broadened its

employer and member benefits

offering, with the introduction of

the SuperFriend programs.

The SuperFriend program is an

initiative created by Industry

Super Funds that runs a number

of mental health and wellbeing

programs.

Source: Super Review

SUPER STATISTICS

Club Plus Super recently

commissioned a survey into the

gap between retirement

objectives and contributions

levels. The survey found that

only 24.5 per cent of Australians

where making additional

contributions in order to reach

their retirement goals.

Source: Super Review

Roy Morgan conducted a

survey across the big 4 banks

(CBA, NAB, ANZ and Westpac)

which found that the banks

secured less than one-fifth of

their customers superannuation

business.

NAB had the highest share at

18.5 per cent and ANZ had the

lowest share at 11.6 per cent.

Source: InvestorDaily

REGULATION

The Australian Securities and

Investment Commission (ASIC)

has issued Equity Trustees

Limited and Como Financial

Services with penalties of

$20,400 each due to potentially

misleading promotional

information on their Good Super

superannuation fund.

ASIC’s infringement notice

stated that they had breached

the act by making false or

misleading representation on

the Good Super website as to

the performance

characteristics and use of

services offered by the Good

Super fund.

Source: Money Management

WOMEN IN SUPER

Women in Super (WIS) and the

Australian Graduate School of

Management (AGSM) have

entered into a partnership to

offer scholarships for NSW WIS

members. The scholarships are

for Executive Education

programs which are aimed at

fast tracking careers in the

superannuation industry.

Source: Financial Standard