01/03/2008
In this, managers’ fiduciary duties would be called on to moderate the money-making focus of investment banks. Such a relationship would give investment banks an opportunity to carve out a wider niche in the retirement savings market, Green added.
Gray also addressed super funds’ development of internal investment management divisions. “This would lead to a further blurring. You will find that the people managing the money will want to go after third-party business as well,” he said.
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The $170 billion fund has cut administration fees from 0.16 per cent to 0.08 per cent, following a platform migration completed in 2022 and a pension book that has roughly doubled in five years. Head of retirement income Darren Williams says that for now the fee is as low as it can go.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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