The $2.6 billion Catholic Superannuation and Retirement Fund (CSRF) has appointed ING as its new insurer, replacing AMP. CSRF managing director Greg Cantor said ING was one of nine insurers who tendered for the role, including Axa and AMP who also made the shortlist.
Cantor said when CSRF goes public offer on July 1, it will extend its insurance offer to include death and permanent disability for casual workers, and will also allow permanent workers who change employers to retain their insurance policies. “We’ve had AMP for a number of years, but we wanted to do these things and ING were more accommodative of what we required,” he said. CSRF also recently appointed two currency specialists; Macquarie Funds and Barclays Global Investors to manage active currency mandates.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
