Prime Super gets MySuper sign-off
Primary industry-focused industry superannuation fund Prime Super has joined the growing list of funds to gain approval from the Australian Prudential Regulation Authority (APRA) for a MySuper product.
Confirming the APRA approval this week, Prime Super chief executive Lachlan Baird said it signalled the fund was well place to cope with the demands evolving out of the Government's Stronger Super policy.
"This is incredibly important for our registered employers," he said. "In the midst of quite a bit of superannuation change they'll have one less thing to worry about."
Baird said that now that fund had MySuper licence approval, it would focus its attention on the Government's broader Stronger Super reforms, including educating employers about the SuperStream data standards and how this would affect the way they interacted with the Fund.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
