Industry funds welcome APRA funds report
The Australian Institute of Superannuation Trustees (AIST) has welcomed the Australian Prudential Regulation Authority's (APRA's) Statistics Superannuation Fund-level Rates of Return data, claiming it shows not-for-profit funds emerged winners.
"The statistics show that of the 50 funds with top 10-year fund-level rates of return, all but two are corporate, industry and public sector funds," AIST executive manager of policy and research David Haynes said.
He said all but six of the 50 funds with top five-year fund level rates of return were also either corporate, industry or public sector funds.
"Looking at a fund's performance over the longer term allows members to account for investment volatility and the statistics show that not-for-profit funds are outperforming their retail counterparts."
Public sector funds had the strongest rate of return over the 10-year period at 7 per cent, followed by industry funds at 6.7 per cent, corporate funds at 6.5 per cent and retail funds at 4.9 per cent.
The APRA Annual Superannuation Bulletin also showed more women are serving on superannuation boards - up from 16 per cent in 2006 to 22 per cent in 2013.
AIST executive manager of governance Eva Scheerlinck said the non-profit sector was striving towards increasing the number of women on super boards but there was a long way to go.
"We actively encourage women in the super industry through programs such as Super Springboard - a program that provides participants with technical knowledge, skills training, a dedicated mentoring program and networking opportunities."
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