APRA data reveals advertising/marketing super spenders
Australia’s largest superannuation fund, AustralianSuper has emerged as the biggest spender on advertising and marketing in newly-released data compiled by the Australian Prudential Regulation Authority (APRA).
The data, released for the first time today, revealed AustralianSuper spent $42,596,000 under the advertising and marketing expenditure heading well ahead of the next largest industry fund, Australian Retirement Trust, which is listed as spending $2,628,000 over the period.
The next largest spender on advertising and marketing was big construction industry fund, Cbus on $25,015,00 and then Hostplus on $24,310,000.
The APRA data does not define how the money was spent beyond attributing it to advertising and marketing expenses.
The data covers funds with a 30 June balance date.
I thought member funds are for member benefits and NOT for advertising. And if these industry funds are so good compared to Retail funds Why the need for advertising?
Retail funds using index managed funds are cheaper than Industry funds 95% of the time.
Where was the data published?
Its on the APRA website.
Mike, what period was the advertising money spent (i.e. over 12 months or another period the study looked at)?
I’m also curious what they classified ‘marketing’ – corporate boxes, shouting expensive gifts to politicians and unions, paying unions to send members to them and the quantities of each…
APRA & ASIC let these Industry Super Funds do what ever they want, spend whatever they want, sporting boxes, wine & dine, OS travel etc all under marketing & advertising.
Buying Pollies, Union and advertising support is all marketing.
Regulators that DO NOT Regulate.
Union & Bikie bosses living large on marketing expense accounts.
What I would really like to know is how much they paid in political donations. There was legislation drafted by the former Government that required that to be disclosed. When the current Government was elected that was the first law they changed in their first few days in office, deleting the requirement for that disclosure. I guess we will never know. Unless there is a change of Government next year perhaps.
It would be interesting to see who controls the Marketing/advertising firms that these super funds use too. Hopefully no conflict of interest.
I also find it hard to believe HostPlus is not right at the top, with all the sporting teams they seem to sponsor.