RC sees industry funds increase satisfaction lead over retail

As the banks face issues with customer satisfaction so too have their associated super funds, with Roy Morgan finding that industry funds have increased their customer satisfaction ratings with their financial performance over retail funds in the last six months.

In the six months to October, satisfaction with industry funds was 61.8 percent comparted to 58.2 per cent for retail funds, representing a 1.4 per cent increase on its lead from this time last year.

The only member group for which retail funds recorded higher satisfaction ratings that their industry counterparts was those with balances under $5,000, for whom their rating of 49 per cent was 0.4 percentage points higher. This segment accounted for just 0.1 per cent of total market value.

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Industry funds beat retail funds by the most in the $250,000 to $699,999 segment, where they led by 10.9 percentage points, followed by the $100,000 to $249,999 group where they led by 8.7 points.

Roy Morgan industry communications director, Norman Morris, pinned these results on retail funds and their providers taking the brunt of the adverse publicity generated by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

“This publicity has the potential to adversely impact satisfaction ratings relative to industry funds which have received very little attention,” he said. “In addition, published performance tables on superannuation generally show industry funds have been performing better than retail funds.”

Satisfaction with both industry and retail funds improved as balances increased. For balances of $700,000 or more, both has their highest satisfaction, with industry funds on 80.5 per cent and retail funds on 75.9 per cent.




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Tell me that Industry funds aren't essentially a multibillion dollar ponzi scheme? Given the insane asset allocations, unlisted illiquid property exposure, huge 'alternatives' or 'other' segments, and not adhering to market valuations but their own methodology and timing, how would they not fall over if they didn't have all the SGC from millions of members continually topping them up so they can afford to pay withdrawals or roll overs? If the SGC were to stop, given their false 'returns' that they spruik, I am certain they would be exposed as the complete fabrications much like Bernie of US fame.

Correct!

That's an accurate excellent summary of exactly what is going with these crooks as well as an accurate prediction if all the lemmings that channel their SG there were to suddenly wake up and smell the roses.

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