There is no doubt that financial markets across the world are undergoing a lot of change and stress this year. Just recently, for instance, the US Federal Reserve has agreed to loan money to the AIG insurance group and the Lehman Brothers investment bank has recently filed for bankruptcy. Unfortunately, it is possible that these changes and movements will continue for some months to come.
This instability is, of course, affecting the investment market in Australia as well, and super funds have not been exempt from the fallout.
AvSuper’s Trustee is continuing to monitor the financial situation and its impact on AvSuper investments, and will make any adjustments that are seen appropriate. However, given the long term nature of super, the current volatile market is unlikely to have a major impact on the retirement savings of many AvSuper members.
We will keep you informed about any impact on our investments and any decisions we make in response to the moving market, but please contact us if you have any immediate concerns.