In this edition:
Research and submissions
A submission was made to Treasury in response to the consultation on the Performance Test Treatment of Faith-Based Products: draft legislation.
In the submission ASFA supported the adjustment of the annual performance test to reflect the faith-based orientation of a superannuation fund and the fact the fund has screened out investments that are not consistent with the beliefs of the members and the ethos of the fund. The submission also called for the scope to be broadened to all ‘values-based’ investing, including ethical, ESG & sustainability and that the test should be an ‘adjusted’ performance test and not a ‘supplementary’ performance test. Finally, the submission recommended the forthcoming performance test review considers the appropriateness of the current performance test and how it could be adjusted for products that employ ‘values-based’ or ‘principles- based’ investing.
Media
The ASFA Retirement Standard was featured in an article in the Financial Standard, Money Management, The New Daily and Super Review.
ASFA’s proposed superannuation baby bonus was featured in an article in The Oz as a possible solution to addressing the 40% gap in superannuation balances between men and women.
ASFA’s pre-budget submission proposal for a $5 million cap on the amount an individual can have in superannuation was featured in articles in The Australian, Adelaide Now and InQueensland.
ASFA’s CEO was featured in articles on 7 News and the Daily Mail discussing the recent results of the APRA performance test.
ASFA’s Deputy CEO was on ABC’s 7.30 discussing economic uncertainty and retirement.
ASFA’s call for a review of the YFYS performance test benchmarks to account for the exclusions and negative screens that faith and values-based funds use, was featured in articles in Investor Strategy and Financial Newswire.
ASFA’s analysis of the impact of the early release scheme was featured in articles in The Canberra Times, The Daily Mail, IFA, Investor Strategy News and Super Review.
Events and Learning
The ASFA Learning team will be delivering the following learning workshops in September:
