Super funds holding A$1.2bn in reserves

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AUSTRALIA - Industry superannuation funds are holding A$1.2bn (US$1.2bn) in operating and general reserves, research by Deloitte has found.

It is the first time that total reserves, held to compensate members in the event of operational errors such as miscalculations of unit prices or taxation, have exceeded A$1bn. Until now, reserv...

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