“Being a new product and having a small number of users, we saw ourselves very much in a partnership where we can work closely together to make a good product.” The fund has started working with Bluedoor as it prepares for the implementation of Cooper Review recommendations, particularly SuperStream, which aims to overhaul and modernise superannuation administration. Bluedoor hosted a meeting among users last year at which clients shared experiences and explored further use of the system. Another is planned in the near future. AUSCOAL has never benefited from this before, Grant says. User groups are usually focused on technical matters, not operational strategy. “I think that’s why existing products in super haven’t moved to being anything other than administration systems,” Grant says. AUSCOAL began using Bluedoor in July 2010. It wanted a modern administration platform that integrates workflow processes and provides intelligent character recognition, which translates handwritten text into characters that machines can read. For SuperRatings, it is difficult to make a well-informed judgment about Bluedoor due to its limited history and small number of clients. “We still think there is [some] development to do for some of the functionalities,” MacPhee says. Burgess says Bluedoor needs to ensure it is scalable and can accommodate the volume of transactions that AXA and other clients make. So far, the system has been adopted primarily by self-administered funds. It aims to gain third-party administrators as clients but there have been few opportunities to do so in the past five years, Cassar says.
Governance
Aware Super has backed the call for a legislative change that will introduce mandatory human rights due diligence for large Australian companies, as head of responsible investment Liza McDonald said it’s a “reasonable request” which will help asset owners understand and manage the governance risks in their portfolios.





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