Thu, 31st Oct 2024

In this week's Superannuation News Wrap, the focus is on the increasing regulatory scrutiny and the call for transparency within the Australian super fund industry. There is a significant concern over the high marketing expenses, reaching up to $60.2 million for funds like AustralianSuper. There is growing demand for more ethical fund management with questions arising on these costs' true benefits to members. APRA, headed by Deputy Chair Margaret Cole, is intensifying its scrutiny to ensure responsible financial management of these funds. In other news, the IMF highlights potential risks due to the lack of liquidity in the super fund industry, emphasizing the need for better strategies to cope with stress events and evolving economic scenarios.