Activist superannuation fund Future Super is aiming to triple its funds under management by the end of this decade, amid a push by regulators to name and shame dud funds and force greater industry consolidation.
The Australian Prudential Regulation Authority has increasingly put pressure on the $3.4 trillion superannuation industry toVerve Super “We are not one of those funds that puts our head in the sand and says these things don’t matter,” he said. “We want to make sure fees are not a barrier to members investing ethically.”Mr Sheikh said APRA had articulated that $10 billion was a “red line when it comes to size” and said the fund was in active discussions with a “large number” of funds wanting to merge, adding he would prioritise partnerships with technology-focused funds.