Ratings agencies prompt fund to launch pension

The $235 million OAMPS Superannuation is expecting to launch its new allocated pension in October, having worked with its administrator AAS to build a product that would complement the super fund.

The pension stream product will offer members six investment options, compared to 10 for the super fund, and charge slightly lower fees than the super fund.

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AGEST digests a massive surge in cash

Michael Seton
Michael Seton
There has been an unprecedented surge in the size of the cash option at public sector fund AGEST, from $70 million in 2007 to $800 million – or 26 per cent of the entire fund – at the end of June this year, however the scheme sees no need for an education campaign about the long-term prospects of cash.

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LGS dumps InTech, looks to hire investment analyst

The $4.7 billion NSW Local Government Superannuation Scheme (LGS) has cut ties with its asset consultant of three years, InTech Investment Consulting, and appointed an international competitor, while the fund is looking to beef up its internal resources later this year to help meet reporting requirements under the UN Principles for Responsible Investment (PRI).

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Asset Super completes manager overhaul

The $1.4 billion Asset Super has terminated a Challenger domestic shares mandate, reducing its number of Aussie equities managers from six to five, and farewelled a State Street Global Advisors fixed income mandate as it rationalises that asset class under a single manager.

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Ratings agencies prompt fund to launch pension

A review by external ratings agencies has prompted a Melbourne-based fund to launch an allocated pension as part of a member retention strategy at retirement, while its new insurance arrangements have seen group insurance cover rise by 67 per cent.

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Australian ‘fundamental’ index introduced

Fundamental indexing has received a fillip with the launch of a FTSE index that weights 200 Australian stocks according to the Research Affiliates methodology, which ignores price to focus on ‘fundamental’ factors such as book value, revenue and cash flow.

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