Super Fund Scandal

IOOF has been in the press recently for all for wrong reasons, after APRA’s action wiped over $900 million dollars off the share-market, and their managing director and chairman later facing court over claims of mismanagement. In this case, the announcement couldn’t have come at a worse time, as the superannuation company is planning to purchase ANZ’s superannuation business, OnePath super, later this year. This makes IOOF the largest Australian financial advice company funds under management.

DATE POSTED
Wednesday 24th of April, 2019
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