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The House of Representatives Standing Committee on Economics has recommended greater disclosure obligations for institutional investors and proxy advisors and for the ACCC to actively monitor common ownership in Australia - all the while sharing little evidence to suggest common ownership results in adverse outcomes.
Attempts to stash funds in hidden superannuation accounts will be thwarted under tough new disclosure laws.
The negative returns for equities in January may not have been the biggest problem for super funds, with the size of the value premium seen posing a significant risk to investors with actively managed growth style portfolios.
Media Super has confirmed the two funds will merge on April 9 and that its members will see their administration and investment fees increase slightly in return for a more comprehensive offering.
Australia’s online investment advisers have been buoyed by Swiss banking giant UBS’s $US1.4 billion acquisition of US fintech Wealthfront.