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Australian Retirement Trust wraps up AvSuper merger

ANDREW MCKEAN  |  TUESDAY, 7 MAY 2024
... Your Super performance test in August of that year. "Following discussions with the board, team and external partners, we are now considering if AvSuper members would be better served in a different fund with more resources at its disposal," AvSuper ...

Magellan bleeds another $1bn

ANDREW MCKEAN  |  TUESDAY, 7 MAY 2024
... of $1 billion in funds under management (FUM) in April, according to its latest monthly update on the ASX. Magellan's FUM now stands at $36.3 billion. The fund manager reported that its net flows were flat, consisting of net retail outflows of $200 million ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... calling for superannuation switching business models." The Australian Institute of Superannuation Trustees (AIST), which is now Super Members Council (SMC), has advocated for the banning of advice firms using third parties to solicit business via cold ...

FSC launches digital advice group

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... advice by taking on a digital advice association that flagged its formation one year ago. The Digital Advice Expert Group is now part of the FSC, founded by moneyGPS chief executive George Haramis, Intelligence Ink chief strategy officer for digital ...

Farewell TelstraSuper: Largest corporate fund explores merger options

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
... TelstraSuper said. The $26 billion super fund was initially created in 1990 exclusively for Telstra employees 30 years ago, but it now has a much broader membership, having allowed family and friends of employees to join in recent years. Currently, less ...

Performance test needs better metrics, durability

KARREN VERGARA  |  MONDAY, 6 MAY 2024
... management side and reduces more of that active management. It also encourages more short-term investment decisions as funds are now actively managing the performance test, they're more looking from a horizon of maybe eight to 10 years as opposed ...

Count renews Iress contract

KARREN VERGARA  |  MONDAY, 6 MAY 2024
... & Sourcing from Trading. Harry Mitchell currently oversees Wealth & Sourcing in addition to APAC Wealth. The Trading unit now reports into Jason Hoang as part of our global portfolio of Trading & Market Data businesses. "Our next focus for the Managed ...

UniSuper battles major system outage

JAMIE WILLIAMSON  |  FRIDAY, 3 MAY 2024
... decision by the fund to outsource roles in its delivery and information business unit, saying it is this very unit that is now tasked with getting systems back online. UniSuper has apparently signed a deal with Capgemini to take over these roles, impacting ...

ART names advice and education leads

ELIZABETH FRY  |  FRIDAY, 3 MAY 2024
... advisers. "Many members need complex advice on retirement, and these advisers help deliver it," she said. Erick Cordero is now the new head of advice and education delivery at the nation's second-largest superannuation fund, and Evan Poole has been ...

Former Diverger managing director joins VBP

JAMIE WILLIAMSON  |  THURSDAY, 2 MAY 2024
... Nathan Jacobsen to take over as chief executive. Carney co-founded VBP in 2013, leading it as chief executive ever since. Now, he has decided to step back from the day-to-day management, taking on the role of head of growth to focus on business development ...