Australia’s superannuation system has been judged to be the third best retirement system in the world. This is a good result, but Denmark’s system shows how the judges think it can be improved.
Tag Archives | regulation
FOFA demands higher professionalism, improves client confidence and presents opportunities for reputable advisors. The cleansing effects of the legislation are expected to outweigh the costs in the long term.
Australian superannuation is a highly dynamic industry, as this review of 2013-2033 shows. For many retirees, institutional funds, whether industry or retail funds, have not been able to compete with the attraction of SMSFs.
The current US budget crisis will not be the first time its government has run out of money. Scary as this may sound to investors, the impact on markets of recent government shutdowns was different to what many expected.
Managed funds in Australia hold one trillion dollars in assets, double SMSFs at $500 billion. Compulsory superannuation flowing into retail and industry multisector funds will ensure managed funds continue to prosper.
There is a potential trading opportunity in every major event, natural or man-made. But whatever you do, it’s important to make a positive difference with your life, according to this Australian legend of the hedge fund industry.
Every SMSF should have ‘industrial strength’ administration that is timely, accurate, honest and in conformity with a vast array of rules and regulations.
The ATO will step up surveillance of SMSFs in 2013/14, and trustees need to ensure their fund is compliant. There are rules around the acquisition of assets, especially related party transactions.
* An ASIC review of mid-tier AFS licencees shows majority of their income comes from product issuers, with inevitable conflicts of interest.
IBISWorld is Australia’s best-known business information corporation and has provided this summary of the current superannuation landscape exclusively for Cuffelinks.
* The ATO supervisory levy on SMSFs is rising rapidly from the current $191, to $259 in 2013/2014 (or effectively $388 with advance payments). And a surprising $518 for a new fund.
A new charity regulator was established a few months ago, and thousands of directors and trustees of foundations and not-for-profits need to understand the implications.
The big global trends in funds management are a move from equities to fixed interest, from active to index, a reduction in fund commissions, and increased dominance of the biggest managers.
* ASIC Commissioner Peter Kell heads up the SMSF taskforce. Here are some fascinating extracts from his recent speech to CPA Australia.
ASIC’s new definition of ‘hedge funds’ will have important ramifications for many industry participants, and may even affect PI insurance costs.
Significant market-shaping forces are in play which will disrupt many wealth management business models, but with change comes opportunity.