Brogden comments on APRA quarterly super results
|
|
Investor confidence will be strengthened by solid superannuation returns for the September quarter, according to Investment and Financial Services Association (IFSA) chief executive John Brogden.
Brogden said the Australian Prudential Regulation Authority (APRA) September 2009 Quarterly Superannuation Performance report, along with the latest IFSA CoreData investor sentiment survey, demonstrated that there would be a steady increase in the number of investors who believe the market for investments would improve in the next three months.
“The growth of total estimated assets by 10.6 per cent to a total of $1.2 trillion along with a combined rate of return of 9.4 per cent across sectors is also welcome news,” he said.
“The strong rate of return for retail funds at 10.4 per cent is pleasing to see. Significantly, the retail sector has outperformed some of the other industry sectors by as much as 2.3 per cent, a healthy lead by any measure.”
Recommended for you
With Insignia Financial suffering a cyber attack on its Expand platform, this can potentially have a negative impact on the two private equity bids currently in play for the firm.
State Street Global Advisors has made an equity investment in Ethic, a platform helping financial advisers to produce bespoke portfolios, reflecting the greater client demand for customised portfolios.
WT Financial’s new entity with Merchant, Investco, has entered into a heads of agreement to merge three financial advice firms.
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
