RFS unknown

Rivkin and others to benefit from Superannuation

  1. 111 Posts.
    The federal budget announced a host of changes to Superannuation which is positive news for all in the sector.

    In particular the benefits are to companies that derive much of their income from funds under management and Superannuation advice.

    Todays financial review quotes that superannuation savings are projected to grow at an average rate of 11.8% to 1.5 trillion in 2011 as the population ages.

    Compulsory super is 9% of salary so everyone is touched by it.

    Changes announced in the budget included increases to the tax deductible personal contributions for self employed persons,the reduction in the surcharge by 1.5% per annum to 10.5% in 2004,the potential for married persons to split super as well as the introduction of co contributions for low income earners who make undeducted contributions.

    This will see more people attracted to increasing their focus on their superannuation strategies for retirment.

    Companies that will benefit from this in the big caps are the banks,AMP,AXA,Tower,and Challenger.

    In the smaller caps the distribution businesses in the sector and boutique fund managers will be the winners as funds under management increase.
    These include Fiducian (FSP),Wilson asset management (WAM),Count (COU),Deakin (DKN),Investor Group (IGP),Stockford (SKD) and Rivkin financial services (RFS).

    I hold RFS,DKNO,and CLI shares.

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