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Superannuation

More insurance for IBM Super members

RUTH LIEW  |  WEDNESDAY, 14 JUL 2010
The corporate fund of IBM Australia is boosting its insurance for members, including opening up death and TPD cover for spouse and retained members.

Nationwide signs Mercer for asset consulting

MICHAEL HOBBS  |  WEDNESDAY, 14 JUL 2010
Nationwide Superannuation Fund has signed Mercer as its asset consultant as the fund considers moving to a full implementation style asset consulting relationship.

Westscheme overhauls intl equities portfolio

MICHAEL HOBBS  |  WEDNESDAY, 14 JUL 2010
Westscheme has released its revised overseas developed equities fund manager lineup after dropping BlackRock and State Street Global Advisors from the portfolio.

US pension plan deficits rise in June

MICHAEL HOBBS  |  WEDNESDAY, 14 JUL 2010
Pension plan deficits of S&P1500 reached $510 billion at the end of the financial year, just $1 billion shy of the previous deficit record set in January 2009, according to a new report.

LGS sells FuturePlus share to EISS

MICHELLE BALTAZAR, MICHAEL HOBBS  |  TUESDAY, 13 JUL 2010
Local Government Super (LGS) is selling its half stake in admin and investment provider FuturePlus to its other half-owner Energy Industries Superannuation Scheme (EISS) - lifting the uncertainty that hung over the co-owned business caught in the political ...

AvSuper selects Hastings and Invesco

MICHAEL HOBBS  |  TUESDAY, 13 JUL 2010
AvSuper has given $35 million to Invesco to invest in Australian small cap equities and $24 million to Hastings Funds Management as part of its expanding global infrastructure portfolio.

Trustee outsourcing deals in regulator spotlight

ALEX DUNNIN  |  TUESDAY, 13 JUL 2010
New research from APRA reveals that while the focus on super funds using related party service providers often focuses on not-for-profit funds, it is the outsourcing practices of retail funds that present more concerns to the regulator.

Plum wins BP super mandate

PLUM UPDATE  |  TUESDAY, 13 JUL 2010
Plum has been appointed to provide superannuation services for the $470 million BP Superannuation Fund.

Auscoal switches to daily unit pricing

RUTH LIEW  |  TUESDAY, 13 JUL 2010
The $5 billion-plus Auscoal Super has switched from weekly crediting rates to daily unit pricing in line with the broader industry shift towards daily unit pricing.

More planners gain SMSF cred

RUTH LIEW  |  TUESDAY, 13 JUL 2010
SPAA has recorded a 20 per cent jump in advisers seeking self managed super fund (SMSF) specialist accreditation as planners embrace higher professional standards to cater for the biggest sub-segment of the superannuation industry.