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Trustee-directed products largely encompass accumulation choice products with strategic asset allocations to more than one asset class. Certain products are excluded, including those where a trustee does not manage the investment strategy and strategic asset allocations.
The Financial Advice Association Australia (FAAA) has criticised Treasury for neglecting to consult on draft Superannuation Performance Test reforms.
The move follows elevation of ESG from investment risk to a corporate risk and a substantial rotation from active to passive mandates, and is likely to presage additional ESG hires.