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Australians get a harsh shock when they open their retirement statements. For most, it was a rare year of loss. Only three funds ended up black. Callum Foote and Michael West investigate super returns and the best performing fund of all, Hostplus. It’s an obvious thing, but it’s still of no value. When interest rates rise, the stock market tends to fall. And that’s exactly what happened to the savings of millions of Australians for the year to June. Opening our pension fund letter, we found that our scores were lower than the previous year. The stock market decline has been compounded by an unusual phenomenon; bonds also fell. Bonds are an important part of a “balanced” super portfolio, and when bond yields (interest rates on debt) rise, bond prices fall. The good news is the market has bounced since then, so the positive returns over the past seven weeks should send most of us back into the dark. Tracing the league tables, historic trends prevail, even in this turbulent year

Barefoot Investor reveals the REAL retirement amount you need to retire comfortably – and that’s a lot less than you’ve been told Barefoot investors reveal super low amount needed to retire Scott Pape says workers don’t need to save the recommended half million He said the actual figure is far below as long as retirees own their own homes By Aidan Wondracz For The Australian Daily Surat Published: 7:59 p.m. EDT, 16 July 2022 | Updated: 8:39 PM EDT, July 16, 2022 The Barefoot Investor has revealed the staggering pension amount Australians need to retire comfortably. Scott Pape said the figure was much smaller than the nearly $550,000 workers had long been told they needed to save. The figure is based on the Australian Pension Fund Association standard which claims that one person needs $545,000 and a spouse $640,000. Mr Pape said workers could retire for hundreds of thousands of dollars less based on research by Super C

The head of investment at the $82 billion hotel industry fund, Sam Sicilia, said his team’s 2015 decision to dramatically reduce the fund’s exposure to bonds to near zero “paid off big time”. While he admits Hostplus has the built-in advantage of a young member base (average age 37) and multiple redemptions, allowing it to “play the long game”, he said the rapid returns in interest rates had put some competitors on the wrong foot. “Anyone who buys bonds for protection is thinking about the financial 101 rather than the interest rate environment,” said Mr Sicilia AFR Weekend. ‘Back, back, back’ Hostplus continues to duplicate unlisted infrastructure assets such as airports, seaports and bridges, said Sam Sicilia. These investments have been criticized for being difficult to sell, having non-transparent valuations and alleged political motivations beyond financial gain. But the portfolio manager said he would not apologize for exposing members to an asset class that helped them avoid lo

Queensland’s Racing Minister backed the decision to withhold hundreds of thousands of dollars in funding from Brisbane’s top racing club after refusing to step down from its CEO, who was accused of rape. Key points: Racing Minister Grace Grace said she had previously asked Racing Queensland to direct APHRC to step down from Mr Steele as CEO until the matter was resolved. He said the club board had ignored the directive and challenged its legitimacy Racing Queensland has withheld general fund payments from the club totaling around $600,000 Scott Steele, chief executive of Albion Park Harness Racing Club (APHRC), last month committed to trial in District Court on two counts of sexual assault and one rape for offenses allegedly committed in 2015 and 2016. He opposes the accusations. Yesterday Racing Minister Grace Grace said she had previously asked Racing Queensland (RQ) to direct APHRC to step down Mr Steele as CEO until the matter was resolved, but the club’s board has ignored the dire