Aussie super funds lack tailoring: Urwin
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Australian superannuation funds may need to be more cognisant of tailoring members' investments to their life stages.
The global head of investment consulting at Watson Wyatt, Roger Urwin, said he was surprised this was not more often the case in Australia.
He said this would have helped to avoid people moving close to their retirement and finding their super balances have been badly affected in the current meltdown.
Urwin told an Asset Allocation Summit in Sydney that there was a need to look more closely at lifecycle strategies.
He pointed out that global pension fund assets had now declined to 1996 levels.
AUTHOR
Mike Taylor
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