One of the best wealth transference scams ever invented continues.
The same thing can be said for the domestic funds management industry – particularly where superannuation is concerned. Recent changes to remove the best interest provision will see investors even worse off courtesy of a return to the bad old days of belting people with outrageous fees. So you will have the double whammy of crap performance and what money you do make being eaten into by fees.
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It would be interesting to see the same relative performance of superannuation funds in Australia.