A report came out last week on the amount of funds managed by retail and for-profit super funds versus not-for-profit super funds (primarily industry super funds). The report states the amount of funds under management of the retail super fund sector have increased only by 0.51% in the last 12 months.
Generally, retail super funds are run by banks and wealth management companies that are listed on the stock exchange. Their objective is to generate a profit to return to shareholders.
Of course, the mandated job of the trustee of the super fund is to generate a return in the best interest of it’s super member. However, what the Royal Commission exposed is some super fund trustees have charged higher fees unnecessarily, and generated a lower return than could have been achieved; showing these trustees were not acting in the best interest of their members.
Listen in now for more of our discussion the industry and retail super fund performance..
This Week’s Investor Exchange Round Table Covered:
- Brett shares survey results on the costs of building defects or remediation to new home-owners of new apartment buildings over the past decade. Listen in for the data findings. (14:17)
- Louis and Brett discuss using the family home as a potential source of retirement funding. Listen in for his thoughts. (16:16)
- Joel shares news that the world’s largest economy seems to be in pretty good shape. Cities on the west coast of the US are excelling in the tech industry, and residents are not holding back on spending on retail and entertainment. (34:32)
You Cannot Be Serious:
Authorities in a German city had to evacuate an apartment block after a cobra escaped from a home and was spotted in the hallway!
A man was asked by his girlfriend to pick up some female hygiene products for her, asking if she wanted the lemon or lime ‘flavour’ as the boxes were either yellow or green. Of course, she posted the text he sent onto social media, and now males all over the world are confused.
Write in to get your investment and wealth management questions answered by Joel, Brett and Louis.
Ask a Question: https://theinvestorexchange.com.au/ask/
Join the Conversation: fb.me/theinvestorexchange