Register  
 
 
 
 
 
AusSuper public sector division results from merger
Friday, 13 April 2012 12:25pm

A Public Sector Division of AustralianSuper will cater to AGEST member needs following the merger of the two funds.

The division is designed to capture and build on AGEST's position in the provision of targeted services to public sector employees.

"This is good news for AGEST members. The Board of AGEST has identified around $13 million per annum in savings through the merger. These savings, which are a result of lower administration and investment costs, will go straight to members' accounts," said AGEST chief Cath Bowtell.

"We have also been able to secure changes to AustralianSuper's offer to reflect the current features of AGEST that our members value."

The merger will see AustralianSuper offer expanded member services in Canberra and Darwin, in addition to the introduction of daily switching.

"AGEST members have told us that they value these services and I'm pleased that AustralianSuper quickly recognised the benefit to their members of extending these to all members of the merged fund" said Bowtell.

Both funds are awaiting government relief from realising capital gains and losses when assets transfer from AGEST to AustralianSuper for merger approval.

AGEST has more than 130,000 members and $4.3bn in funds under management.

News Search   
VideoBrought to you by
Betashares high interest cash ETF
The Betashares high interest cash ETF is currently returning significantly above the default cash rates offered on the larger wrap platforms. Learn more about this product in this exclusive video featured ... Watch video
Developing investment opportunities
Given the evolution of Australian Equities funds over the last 10 years, how has the Growth team's investment strategy remained relevant? Watch video
MAX
We invite you to the 2014 Marketing, Advertising and Sales Excellence (MAX) Forum and Awards, the premiere event for financial services professionals who are raising the standards in marketing, sales and ... Watch video
How to distribute 8% per year from global equities
Investor needs have not changed, what has changed is the level of income available from traditional yield sectors such as cash and bonds. This presentation will cover in detail how investors can diversify ... Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
APR
21
MAY
28
Asset Allocation 2014 Forum in Sydney,
29
2014 Annual Stockbrokers Conference
JUN
18
MAX: the Marketing, Advertising and Sales Exellence Forum and Awards
APR
28
FPA TASA road shows
29
FPA TASA road shows
News
Bites

$245 (inc GST) for 1 year
 
 
About Us
Contact Us
Privacy Policy
Terms & Conditions
Comments Policy
Events Calendar

Register
Archive
CPD Login
Register

Managed Funds
- Australian
- Global
Superannuation Funds
- Specialist
- Diversified
"Guide To" Series
Product Launches
Showcases

Home
Shows
Learning
Events
Profiles
Showcase
Platform Report
Mandate Chaser
Roundup
Advantage
Benchmarking

FS Advice
FS Super
FS Private Wealth
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something BYMCt2VH