Worst performing super funds exposed by 'heatmap' | CharlotteGriev1
The regulator's analysis highlighted funds with dwindling member numbers and net cash outflows. AMP's NM Super was outed as the least sustainable fund with a 17.35 per cent decline in account numbers and negative cash flow of 9.66 per cent over a three years to June 30, 2019.
Seven of the ten funds that scored average or above across all eight indicators were not-for-profit industry funds. These included HESTA Super, Media Super, Care Super, Electricity Supply Industry Superannuation and Motor Trades Association of Australia Superannuation. The map is set to be updated annually and Mr Dunnin said it was a "first cut" that showed the regulator's efforts to reposition its image as an enforcement-first regulator, rather than one of back-door dealings."They should be getting in the face of super funds, saying: 'We're watching you. We may not have the power to shut you down but we're coming after you'.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Drought impact tipped to be worst in six decades as sheep numbers tumbleThe national sheep flock is expected to collapse to its smallest size since 1904 amid warnings the drought's impact on the economy and the agricultural sector will linger for up to a decade.
Read more »
'Worst I've seen': Sydney blanketed in 'hazardous' smoke againSydney is blanketed in thick smoke and air quality levels smashed through the hazardous threshold as people in Australia's largest city again wake to a health risk.
Read more »
'Politics at its worst': Malaysia's Anwar Ibrahim denies sexual assault accusation amid party infightingMalaysian Government figure Anwar Ibrahim remains determined to become the country's eighth prime minister, despite allegations from a former staffer of sexual assault emerging late last week.
Read more »
Woman jailed for child sex offences called 'worst kind of predator'A Far North Queensland woman is jailed for more than nine years for sex offences against her own son and three nephews which left the boys sad, suicidal and angry.
Read more »
Tennis world stunned by 'professional' impostorExposed by golden match in ITF tournament
Read more »
'Worst I've seen': Sydney blanketed in 'hazardous' smoke againSydney is blanketed in thick smoke and air quality levels smashed through the hazardous threshold as people in Australia's largest city again wake to a health risk.
Read more »