Bowen signals performance fees change
The Federal Government has signalled that it may be prepared to implement changes to fund manager remuneration via performance fees.
Discussing the issue in a radio interview, Bowen indicated that the Government was considering picking up a specific recommendation of the Cooper Review with respect to performance fees as part of a holistic approach to reducing the cost of superannuation.
He said that the Cooper Review had dealt with performance fees and the need for the establishment of a standard fee.
“The Cooper Review does deal with performance fees and it does indicate that they need to be a standard across the board to ensure that performance fees are paid when performance is good, and that’s certainly something that we’re pursuing,” Bowen said.
AUTHOR
Mike Taylor
Recommended for you
Insignia Financial has returned to profit in FY25, after a $185m loss in the previous year, while its advice division grew their revenue per adviser by 14 per cent.
With licensee switching on the rise, particularly for newer advisers, compliance expert Sean Graham has shared red flags to watch out for when making the jump between AFSLs.
Beyond their investment benefits, over a third of advisers say utilising managed accounts solutions has allowed them to take on more clients, according to Praemium.
Insignia Financial’s wrap platform has appointed Heidi Press, former HUB24 head of product management, to spearhead the design and delivery of the MLC Expand platform.
