Super fund execs and trustees split on sponsorships
Despite new research suggesting that few superannuation fund members want to see their funds investing in sporting sponsorships, research conducted by Money Management's sister publication, Super Review, suggests fund executives and trustees are split on whether members should even be asked their views.
The research, sponsored by Pillar Administration and conducted during the recent Association of Superannuation Funds of Australia (ASFA) conference in Melbourne, found that a small majority of those surveyed believed funds should not even be required to consult members over sporting sponsorships.
The majority of the survey respondents identified themselves as being fund trustees or superannuation executives.
Asked whether superannuation funds should be required to seek member approval before entering into major sporting sponsorships, 42.2 per cent of respondents answered yes, while 54.9 per cent opposed the proposition.
However a majority of respondents did agree with the proposition that superannuation funds should be required to notify the Australian Prudential Regulation Authority (APRA) about major expenditures.
AUTHOR
Mike Taylor
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