On the back of yesterday s heatmaps from APRA, Industry Super Australia (ISA) has said it s clear that closing funds to new members is a Choice sector business model, not a punishment.
New super fund assessments reveal that stopping underperforming funds from taking on new members will not save those that are languishing in dud products. The annual Choice APRA Heatmap found that two
Australians have around $10 billion invested in dud superannuation products from funds such as Colonial First State and BT Retirement Wrap, APRA has found.
A Frontier Advisors report Super in the Economy commissioned by ISA says that affordable housing s longer-term leases backed by government guarantee and low vacancy rates will deliver stable long-term returns that are resistant against adverse economic conditions.
The industry super lobby says governments need to provide financial incentives to make the lower returns from affordable housing investments worthwhile.