With global markets in turmoil, big super faces an epic stress test
The major funds will get a chance to prove they can handle the turbulence. But the financial system’s vulnerabilities have shifted from banks to pensions.
Checking your superannuation balance right now – after the worst week on the sharemarket in over two years – is probably a bad idea.
Good luck, by the way, if you tried to. At the weekend, REST’s mobile app was showing an “outage notice” – meaning the extent of losses in my balance remained a mystery.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com