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DATA REPORTING

The Australian Prudential

Regulation Authority (APRA) has

written to super fund RSEs

proposing greater data

collection by super funds to

satisfy data requirements of the

Australian Bureau of Statistics

(ABS), commencing January

2016. APRA is inviting written

submissions to the consultation

process, with a deadline of 17

April 2015.

Source: APRA

SUPER GUARANTEE

The Australian Institute of

Superannuation Trustees (AIST)

has urged the Government to

reject calls from the Board of

Taxation to change the

superannuation payment

threshold for low income and

casual workers to $1,350 a

quarter. AIST CEO Tom Garcia

said any move to raise the

exemption threshold would

unfairly penalise low income

workers who already faced a

myriad of challenges saving

enough for retirement.

AIST has renewed its long-

standing call for the complete

removal of the $450 monthly

superannuation payment

threshold, arguing all workers

should be entitled to

superannuation payments.

Source: AIST

SUPER INVESTMENTS

VicSuper has awarded a new

$100 million mandate to global

fixed interest manager Payden

& Rygel (P&R) as part of its

alternatives strategy. The P&R

absolute return strategy aims to

generate gross returns of 2.5%

above the 3 month AFMA Bank

Bill Swap Rate over the medium

term. This is the second time

VicSuper have awarded

Payden & Rygel, which had an

initial mandate of $110 million in

2012 to manage a portfolio of

diversified global fixed interest

assets. This has since grown to in

excess of $300 million today.

Source: Professional Planner

MEMBER ENGAGEMENT

Research conducted by Super

Review during November's

Association of Superannuation

Funds of Australia (ASFA)

conference in Melbourne found

that 73 per cent of respondents

believe that more than half

their members had an

inadequate understanding of

insurance inside super. They

were slightly more positive

about member understanding

than they were a year earlier,

with a similar survey conducted

in 2013 receiving a response

rate of 76 per cent.

Source: Super Review

SMSF GROWTH

The transfer of funds under

management from APRA-

regulated funds to SMSFs

appears to be slowing,

according to consulting firm Tria

Investment Partners. Based on

analysis of the ATO's SMSF data

for the 2013 year, net inflows to

SMSFs in 2013 was the weakest

since at least 2006.

Source: Tria Partners

INSURANCE CLAIMS

The retail income protection

market has "basically made no

money" over the past five years

due to the increase in mental

health claims, says TAL boss Jim

Minto. Mr Minto, who is the

Group Executive of TAL and an

executive officer at Japanese

parent company Dai-ichi Life,

told InvestorDaily that mental

health is “as big an issue for

retail [life] insurance as it is for

group insurance”.

Source: Investor Daily

APPOINTMENTS

Financial Services Provider IOOF

has hired former BT Financial

Group Key Account Manager,

Daniel Dalton, as the new

National Sales Manager of its

investment sales team.

Source: Investor Daily

SuperBrief Independent & Concise

Issue #4 of 2015: Friday, 30th January