Perhaps ASIC should consider introducing standardised naming conventions for investment options based on the actual underlying asset allocation, not just what the super funds decide to tell Chant West or Superratings their asset allocation is. Then they might be able to make some meaningful comparisons.
Interesting also that Industry Funds are still allowed to report their returns on a time weighted basis rather than a money weighted basis. It means that no member of an industry fund gets a return figure that is specific to their account taking into account the timing of their super contributions. You can't compare that to the money weighted returns that clients of Advisers will generally be looking at. This also means that the fixed dollar account keeping fees charged by industry funds are not factored into the return i.e. they are not net of fees
A level playing field is required before anyone can make a judgement of performance.
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional