POWERED BY MOMENTUM MEDIA
AAS healthy despite review
Telstra subsidiary KAZ on Wednesday put paid to on-going speculation about the future of Australian Administration Services (AAS), confirming it was reviewing the future of the administration operation, including a possible sale.
Speculation regarding the future of AAS was prompted by preparatory work surrounding the sale of the third tranche of Telstra and the decision by the Russell Investment Group to sell its administration division to IBM.
Managing director of KAZ Stuart Korchinski as recently as last month told Super Review that AAS was doing well in a highly competitive market, and that there was no underlying financial imperative for Telstra to sell off the business.
However, in an announcement issued to media outlets on Wednesday, KAZ said it was considering a number of options for its superannuation administration business, with one option being a sale.
It said it expected to complete its review of the AAS operation by the end of July.
AUTHOR
Mike Taylor
Recommended for you
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment