Editor's Choice
Jo Townsend named chief executive of NZ Super
One of Australia's most experienced superannuation executives will take the helm of New Zealand's sovereign wealth fund, following Matt Whineray's departure late last year.
QMV Legal folds, managing partner to launch new firm
Novigi will wind up QMV Legal as its managing partner Jonathan Steffanoni embarks on launching a new specialist superannuation law firm.
Best super fund products revealed
The best superannuation fund products, based on factors such as investment performance, insurance, fees, and organisational strength, have been named.
Platinum bleeds $1.4bn in outflows
Platinum Investment Management flags it will lose at least $1.4 billion as a partial redemption from institutional clients over the next month, translating to an $18 million hit to revenue.
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Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
I'd like to clarify one thing in your story. It's not that existing MDI options don't work - it's that they involve lots of moving parts, plenty of trustee involvement & lots of complexity all round. It's coming to terms with all of this that seems to have slowed down the momentum for MDI implementation.
In my talk, I identified a range of areas where MDI could be - & will be - extended but this is going to take some time, & will be accompanied by the growth of associated advice services.
Does this explain why Australia's largest super fund has increased its Member Direct annual fee by a massive 119% effective from June 1st, 2015? Is this an exit strategy or just a means of having members fund ballooning costs of running MDI options. Such fees render the MDI option borderline.