‘Threshold oversight’ needed for super funds

The Australian’s economics editor Adam Creighton says it is ‘probably not a bad idea’ for the Australian Prudential Regulation Authority to have ‘threshold oversight’ of ‘extremely poor performing funds’. Mr Creighton told Sky News on Monday there was a need for 'oversight' because many people do not monitor their own super fund returns. His comments came as AMP chairman David Murray hit back at the concept which was a key recommendation of Graeme Samuel's APRA capability review. Mr Murray says there is always ‘risk’ and the recommendation would add an ‘undesirable’ promise of returns.

from National | Daily Telegraph https://ift.tt/2LBJoPj