After conducting an internal review of its fund administration system, Legalsuper has renewed its contract with the incumbent provider.
The $1 billion fund will continue to employ Australian Administration Services (AAS) as its administrator since its systems were “more intelligent” than those of its competitors, Andrew Proebstl, chief executive officer of Legalsuper, said. “We’ve decided to give AAS preferred provider status.” Proebstl said the provider’s system was easier to navigate and helped to identify missing information about members. But the fund would probably not migrate from UltimAAS to AASpire, the new platform built by AAS, until late 2008 or 2009, he said. Proebstl and chief operating officer Maxine Jacona undertook the review, which involved visiting the offices of administration providers and assessing submissions from them.
Portfolio construction aspects including poor alignment of the investment objectives and time horizon and using too broader a basket for benchmarking and comparisons are among the biggest risks to investing in real assets, according to Harsh Parikh.
Matthew SmithSeptember 20, 2021
