While all care has been taken to ensure the accuracy

of the information presented, QMV Super Solutions

is not responsible for any loss or damage suffered in

relying on the information presented.

QMV

QMV Super Solutions specialise in the delivery of world-class technology

and business solutions for the superannuation and wealth management

industries. With a fresh approach to solving complex process issues, our

tailored solutions are delivered by a bright young team who are experts in

their fields, and passionate about results.

qmvsupersolutions.com

SuperBrief Independent & Concise

Issue #3 of 2015: Friday, 23rd January

MODERN AWARD SYSTEM

Research undertaken by the

Financial Services Council (FSC)

has found that 83 per cent of

Australian Prudential Regulation

Authority (APRA) approved

retail MySuper products are

excluded from the modern

awards system. It also revealed

that 88 per cent of the default

market is made up of union and

employer owned industry super

funds.

FSC CEO Sally Loane explains

that it “…means that some of

the lowest fee and highest

performing MySuper products

are prevented from competing

with industry funds.”

Source: Super Review

APRA REPORTING

The Australian Prudential

Regulation Authority (APRA) has

released its final reporting

requirements for non-MySuper

investment options.

The four reporting standards

require quarterly information

about investment performance,

asset allocation, member flows

and structural information on

‘select investment options’.

APRA believes that it has

significantly reduced the

compliance burden whilst still

ensuring timely reporting of

information.

Source: APRA

WORKPLACE RELATIONS REVIEW

The Financial Services Council

(FSC) and a number of other

financial services lobby groups

have been disappointed to find

out that the Productivity

Commission will not be

including default funds under

modern awards in its inquiry into

Workplace Relations.

Source: Money Management

SUPER STATISTICS

Recent Chant West research

indicates that superannuation

fund members have

experienced healthy returns

over 2014. The median return

for growth funds was 8.5 per

cent.

Chant West director Warren

Chant believes the returns were

a good result given the

economic conditions in 2014.

QSuper was the top performing

fund in 2014 with 12.7 per cent,

with the worst performing fund

still delivering 6.5 per cent

Source: InvestorDaily

APPOINTMENTS

Ibbotson Associates has been

reappointed as implemented

investment consultant for

another 3 years by industry

super fund REI Super.

Source: InvestorDaily

SunSuper has appointed Anne

Fuchs as the new Head of Retail

Distribution and Advice. Ms

Fuchs is currently the Chief

Commercial Officer of the

Association of Financial

Advisers (AFA).

Source: Investor Daily

REGULATION

The Australian Prudential

Regulation Authority (APRA) has

thrown its support behind the

Australian Securities and

Investments Commission’s

(ASIC) electronic disclosure

consultation paper.

APRA believes that the use of

electronic disclosure will

provide “clear, concise and

effective disclosure of

information to consumers of

financial services”.

Source: Financial Standard

The December 2014 Platform

Report, produced by

Investment Trends, reveals that

spending on regulatory

compliance totalled $173

million in 2014.

According to Investment Trends

Senior Analyst, Recep Peker, this

accounts for 55 per cent of the

total platform development

spend in 2014 which is up from

51 per cent in 2013.

Source: InvestorDaily