Super funds need to improve their default insurance cover to achieve appropriate levels of adequacy, member engagement and social equity, the Superannuation Insurance Symposium in Melbourne will be told later this month.
Equipsuper near pointy end of member admin review
The $4.1 billion, 50,000-member Equipsuper is nearing the end of its member administration review, with a change in providers looking likely.
…as FuturePlus puts transition managers to the test
FuturePlus, service provider to the EISS and LGS Super funds, has appointed a former investment operations manager from Intech to field tenders from transition managers as it determines an arrangement for future mandate transitions.
Asian instos look to insource investments
Institutional investors in Asia are much less likely to outsource investment management in the wake of the global financial crisis, according to the latest survey from Greenwich Associates.
Tough times to continue for managers
More consolidation among funds managers is predicted, as this year’s rebound is still likely to leave them with fewer assets to manage than in 2007, according to a report published yesterday by Watson Wyatt.
BlackRock/BGI sort out top management
Barclays Global Investors and BlackRock Investment Management have finalised their post-merger executive structure in Australia, with long-standing BlackRock chief executive Maurice O’Shannassy deciding to call it a day.
NGS Super overhauls group insurance…
The $2.7 billion NGS Super has negotiated a new deal with its insurer that will give members the option of income protection to age 65, death cover extended to age 70 and automatic insurance increases for trigger events.
… as fund gets financial health check
In a first for the superannuation industry, Mercer has produced a financial condition report – required by legislation in the insurance industry – for NGS Super assessing the operational risks within the fund, and now plans to roll out the service to other large superannuation funds.
Ascalon fields wave of proposals after Westpac buy-up
Westpac’s acquisition of boutique incubator Ascalon Capital Managers triggered many business pitches from funds managers worldwide aiming to access the Australian market, and saw two key BT and Westpac executives join the company’s board.
