The Sugar Manufacturers of Australia Retirement Trust (SMART) will be absorbed by another fund with a Queensland rural base, AustSafe, which has also just swapped Asian equities managers.
Catholic Super to tap Chindia with private equity
The $2.7 billion Catholic Superannuation Fund has made a $40 million commitment to a New York-based private equity manager to increase its exposure to the emerging markets of China and India.
Bye, bye BlackRock as fund slashes bond exposure
A major industry fund has terminated a fixed interest mandate with BlackRock Financial Management, following a strategic decision to almost halve its exposure to the asset class.
Future Fund bolsters investment team
The Future Fund has made a major increase to its investment team, bringing new blood to every area of its four main investment categories – private markets, equities, fixed interest and strategy.
Super SA set for full IT review
Super SA will replace Talent2’s Supero with a new payroll system for its 15,000 lifetime pensioners from the start of the financial year, and then review systems for its allocated pension and general member administration requirements.
Pillar hires externally for new CEO
Pillar Administration has overlooked an internal candidate many considered the favourite to hire a former managing director of Comminsure as its new CEO.
Sue Willems back at a super fund
The former fund secretary of Non-Government Schools Super, Sue Willems, has left her senior policy advisor role at the Association of Superannuation Funds of Australia (ASFA) for a newly created role at another super fund.
BT Base Cover killed by member unawareness
BT Financial Group has scrapped Base Cover, an opt-out automatic insurance product which would have meant higher levels of cover and premiums for most members of its corporate and personal super products, after a large number of customer complaints.
Van Eyk anoints new head of research
van Eyk has promoted Nigel Douglas to the role filled until recently between Suzanne Tavill and Jerome Lander.
Equipsuper stops sec lending program
Equipsuper has decided to halt its securities lending program, based on concerns of market manipulation by short selling.
AIG Investments chooses Melbourne for new Aussie base
International investment manager AIG Investments has opened an office in Australia, choosing Melbourne for its base after conversations with the New York-based Australian Consulate and the Victorian government, according to the global head of business development Steve Guterman.
Third time at head of table for new CARE chair
Industry fund CARE Super has changed its chairman, appointing an employer director for his third stint in the position during his ten years on the fund’s Board.
