More money, less results: Fat cat super managers called out
UNDERPERFORMING superannuation funds are getting bigger and fatter according to the latest analysis of Australia's "fat cat" fund managers.
AMP dominates as the biggest fat cat fund manager and although, overall, the number of these funds are falling, the number under AMP's umbrella is increasing.
The Commonwealth Bank also increased its ranking, from fourth to third biggest fat cat fund manager this year.
According to the fifth annual analysis by investment services provider Stockspot, there were 521 fat cat funds at June this year, compared with 638 last year.