SYDNEY, Oct. 2 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has published insights into challenges facing some superannuation trustees in operational efficiency, growth, and competitive positioning.
In the paper "Delivering member outcomes into the future", APRA discusses dynamics shaping the ongoing evolution of Australia's superannuation system. These include:
* continuing industry consolidation leading to the reduction in the number of funds;* ongoing growth in the size of the superannuation system, with recent growth concentrated in the largest funds;* expense ratios trending downwards at an aggregate level, but material difference across funds...