Super fund execs and trustees split on sponsorships
Despite new research suggesting that few superannuation fund members want to see their funds investing in sporting sponsorships, research conducted by Money Management's sister publication, Super Review, suggests fund executives and trustees are split on whether members should even be asked their views.
The research, sponsored by Pillar Administration and conducted during the recent Association of Superannuation Funds of Australia (ASFA) conference in Melbourne, found that a small majority of those surveyed believed funds should not even be required to consult members over sporting sponsorships.
The majority of the survey respondents identified themselves as being fund trustees or superannuation executives.
Asked whether superannuation funds should be required to seek member approval before entering into major sporting sponsorships, 42.2 per cent of respondents answered yes, while 54.9 per cent opposed the proposition.
However a majority of respondents did agree with the proposition that superannuation funds should be required to notify the Australian Prudential Regulation Authority (APRA) about major expenditures.
AUTHOR
Mike Taylor
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
