A handful of the nation’s largest and most powerful superannuation funds has urged the Albanese government to ban a popular and controversial investment structure used by rivals, which has been blamed for wealthy Australians losing more than $1 billion.
The group, led by Aware Super chief executive Deanne Stewart, includes about a dozen chief executives of some of the biggest retail and industry superannuation funds, who are pushing for a ban on trustees, such as Diversa and Equity Trustees, acting for wealth platforms.
Loading…