#Industry Super Funds
COSBOA calls for industry super fund governance review
COSBOA has raised concerns about the culture of the superannuation industry, where it believes many director positions appear to be “sinecures” for people from unions and big business associations.
Fluctuating share market limits super fund returns
Median superannuation fund growth retreated 0.2 percent due to faltering share markets in May this year, but the news isn’t all bad with the return to date for the financial year reaching 10 percent.
Superannuation funds down in April (slightly)
Superannuation funds were slightly down in April, by a negligible 0.1 percent, following the mixed performance of global share markets due to the Greek sovereign debt crisis.
Financial advisers to be banned from taking commissions
Financial advisers may be banned from charging commissions on investments and pension sales, under recommendations contained in the Cooper Review of superannuation.
Cbus and Connect industry super funds merge
One of Australia’s largest industry superannuation funds Cbus has agreed to merge with Connect, and will have almost $15 billion in assets under management.