Brogden comments on APRA quarterly super results
|
|
Investor confidence will be strengthened by solid superannuation returns for the September quarter, according to Investment and Financial Services Association (IFSA) chief executive John Brogden.
Brogden said the Australian Prudential Regulation Authority (APRA) September 2009 Quarterly Superannuation Performance report, along with the latest IFSA CoreData investor sentiment survey, demonstrated that there would be a steady increase in the number of investors who believe the market for investments would improve in the next three months.
“The growth of total estimated assets by 10.6 per cent to a total of $1.2 trillion along with a combined rate of return of 9.4 per cent across sectors is also welcome news,” he said.
“The strong rate of return for retail funds at 10.4 per cent is pleasing to see. Significantly, the retail sector has outperformed some of the other industry sectors by as much as 2.3 per cent, a healthy lead by any measure.”
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
