At Curve Wealth, we have preferred to use Industry Funds for our clients’ superannuation needs, when appropriate, for a number of years now. We viewed their profit-for-members approach to keeping fees and operating costs as low as possible, which went to improving members’ overall investment returns, as commendable. However, times have changed…

APRA, the government regulator, is scrutinising them over the choices they are making in running their funds, as well as many well-publicized failures in servicing their members. It is also difficult to consume any media whatsoever without being bombarded by their ads, which are all funded out of their members’ money.

In short, we are starting to think Industry Funds aren’t what they used to be. We are currently undertaking a review of the Industry Fund sector to evaluate where we think they currently stand as a superannuation provider to our clients and where they may be heading in this regard as well.

We will be providing an update on our conclusion to this review, so stay tuned. Meanwhile, please contact us for a discussion on this if you wish to do so.