Treat super funds like publicly listed companies - survey
Superannuation funds should be obliged to operate under the same laws as publicly listed companies, according to a majority of respondents to a survey conducted during the recent Association of Superannuation Funds of Australia (ASFA) conference in Sydney.
The latest Metlife/Super Review Super Outlook survey, conducted in late November, revealed a significant majority of respondents agreed with a key proposition put by some Coalition parliamentarians.
Asked whether they agreed that superannuation funds should be required to operate under the same laws as publicly listed companies, 56.4 per cent of respondents answered "yes", with 40 per cent disagreeing with the proposition.
The significance of the survey finding is that it was generated during a conference dominated by superannuation executives and trustees.
The finding has come as a debate continues between the Financial Services Council (FSC) and the Australian Institute of Superannuation Trustees (AIST) over standards of governance pertaining to superannuation funds.
The FSC has argued for a regime much more closely aligned with that applying to publicly listed companies - a view that has gained sympathy within the Federal Opposition.
The full survey findings will be published in the February edition of Money Management's sister publication Super Review.
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