New entrants little threat
Australia’s existing superannuation funds have little to fear from the entry of new players such as Virgin Super and MaxSuper, according to the latest IUS/Super Review Super Outlook survey.
However, most respondents seem to believe the new players have simply crowded an existing market rather than filled a particular niche.
Asked whether the entry of the new funds represented a threat to the activities of existing funds, most respondents (71.4 per cent) said “no”. Significantly, however, respondents from smaller funds were among those who suggested that the new entrants did represent a threat.
Respondents were much more divided on the question of whether the new funds had actually filled a niche in the Australian superannuation market, with most (57.1 per cent) believing this was not the case.
AUTHOR
Mike Taylor
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