Two-month super fund blackout for HESTA members
Over 1.1 million HESTA super fund members won’t be able to switch investments or have contributions processed for two months. Here’s why.
Over 1.1 million HESTA super fund members won’t be able to switch investments or have contributions processed for two months. Here’s why.
Falcon Capital, under investigation by ASIC, pumped hundreds of millions of dollars into companies associated with director David Anderson.
The super fund has warned any penalty above $2.5m would see members pay at least 30c on the dollar from their retirement savings.
The corporate regulator will seek to wind up a second fund after Melbourne property developer Paul Chiodo was raided by authorities.
More advisers are directing client money into managed accounts but some in the industry question the benefits.
Hostplus chief investment officer Sam Sicilia has pushed back against criticism heaped on industry funds over a lack of leadership accountability.
The lure of defensive investments is well timed for the many managers rolling out reams of new income-focused strategies. But some are riskier than others.
The corporate watchdog has sounded the alarm on payday lenders shifting vulnerable customers up to higher-value loans that provide fewer consumer protections, a day after lashing the super industry.
ASIC is suing AustralianSuper for taking too long to process 7000 death benefit claims, with one one widow saying she only received her payment after making a formal complaint to the regulator.
An ASIC investigation into Melbourne property developer Paul Chiodo and a ‘significant shortfall’ in investor funds has ramped up, with new documents revealed.
Original URL: https://www.theaustralian.com.au/author/cliona-odowd/page/2