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Active Retirees : Active Retirees June-July 2012
12 | www.probussouthpacific.org While many experts agree that retirees’ investments should focus on income rather than growth, this is not the case with the investment portfolios favoured by many default superannuation funds. Recent research from investment firm PIMCO has found that the majority of default super funds do not consider age when allocating assets. “In particular, our analysis showed many default funds with more than 60 per cent of members over age 60 had less than 50 per cent of the assets allocated to income investments, which is contrary to that group’s general desire for asset preservation and income generation,” says John Wilson, Head of PIMCO Australia. Wilson cites the relatively heavy investment in defensive assets in self-managed super funds (SMSFs), most of which, he explains, are owned by over-50s, as evidence that people in this age group prefer, when given the choice and educated about their investments, stability over growth. SMSFs have allowed investors to be more defensive in a drastically changing environment and, according to recent research by Sydney-based Rice Warner Actuaries, this has caused SMSFs to outperform other superannuation investment vehicles in recent years. Super funds don't suit retirees pSp's new home Probus South Pacific Ltd officially opened the doors on its new home at Perth House, Parramatta last month. "Rotary House has has been a wonderful home for us, and we are very grateful for it," said PSP Chairman Margaret Robinson at the official opening on 18 May. "Now, this move to bigger premises at Perth House is the start of a new stage in our growth." Members are welcome to drop by the new offices at 85 George St, Parramatta NSW. ! Given a choice, most over-60s prefer low-risk investment over growth. in the neWs Thinkstock
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