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MLC MySuper switches to lifestageBY KANIKA SOOD | FRIDAY, 22 FEB 2019 12:40PM
MLC is switching its default superannuation product from single strategy to lifestage. And it's making a large bet on growth assets.Read more: MLC, MySuper, Rainmaker Information, Superannuation, Alex Dunnin, Bloomberg AusBond Bill Index, First State Super, Geoff Lloyd, MasterKey, Pooja Antil, SelectingSuper, Sunsuper
Lifecycle MySuper was a better bet than single strategy default funds for members below 40 years of age in FY21 as the equity markets rebounded after COVID, according to Rainmaker Information.
The advice group has appointed a head in Queensland, reporting to chief executive Terry Dillon.
Australia's exchange traded product market reached $115 billion at the end of June 2021, increasing 76% in 12 months - but according to Rainmaker research, only a small portion of that growth came from performance.
The chair of Clime Investment Management and one of its shareholders are calling for the removal of long-serving executive Neil Schafer.
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