Superannuation

AUSTRALIA - The median superannuation growth fund returned just 4.7% in 2010 following a downbeat first half, research by Chant West shows.

AUSTRALIA - AvSuper Fund has dropped US firm Wellington Management from its international equities mandate in favour of Independent Franchise Partnership (IFP) following a recent review.

AUSTRALIA - The Australian Institute of Superannuation Trustees (AIST) said super fund members affected by flooding across Australia may be able to seek early access to some of their superannuation.

NEW ZEALAND - The New Zealand Superannuation Fund posted returns -0.38% in November due to significant falls in the global fixed income markets.

AUSTRALIA/US - The superannuation industry has called on the US Government to make Australian funds exempt from tough proposals to combat tax evasion.

AUSTRALIA - The A$18bn ($17.8bn) REST Industry Superannuation fund has hired State Street Corporation to provide custodial services.

AUSTRALIA - The Australian government has unveiled its plans to reform the superannuation industry, including cuts to management fees and the introduction of the MySuper default fund.

AUSTRALIA - The superannuation industry rose by A$93.2bn to a total of A$1.28trn ($1.26trn)in assets under management in the year to October, latest figures show.

NEW ZEALAND - The New Zealand Superannuation Fund posted its third straight monthly gain in October, growing by 2.7% thanks to strong rallies in global equities and fixed income markets.

AUSTRALIA - Directors of failed companies will be forced to honour unpaid superannuation contributions to employees under plans unveiled by the Australian government.