The $1.7 billion Labor Union Cooperative Retirement Fund (LUCRF) will announce a revamp of its investment structure next month which will involve some considerable changes in its manager line-up.

The restructure follows the appointment of asset consultant Watson Wyatt in August last year to replace James Purvis. “There will be some substantial changes in our investment strategy,” Paula Allen, LUCRF general manager, said. Mid last year the fund expanded its member investment options from three to seven and now offers international shares and property, Australian fixed interest and Australian shares option in addition to its cash, balanced and indexed share options. “It really goes back to 2003 when we saw the changes of choice [of super fund] and we decided to reinvigorate the fund,” Allen said. Some new managers will be appointed and new asset classes, which the fund previously did not invest in, will be made available to members. LUCRF recent efforts to revamp its fund were rewarded with SuperRatings Rising Star Award in November last year. SuperRating was impressed with the fund’s attempt to enhance its member offering and provide better value.

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