POWERED BY MOMENTUM MEDIA
KPMG sell super business to OneVue
KPMG Australia has entered into a transaction to sell its Superannuation Services Business to OneVue.
The two companies confirmed the transaction today meaning that OneVue will be taking control of what represents the fourth-largest external fund administrator in Australia with almost $2 billion in funds under management.
Confirming the sale transaction, KPMG Australia chief executive, Gary WIngrove said that changing market dynamics had made the superannuation services business more suited for growth with a dedicated, specialist superannuation business.
“I am pleased to confirm that KPMG Superannuation Services staff members have been offered roles to continue their careers with OneVue,” he said.
The KPMG Superannuation Services team comprises of 47 specialists.
The sale is expected to be completed by April.
Mr Wingrove also separately confirmed that KPMG Australia will continue to grow its market leading Superannuation Advisory business.
Recommended for you
Increased regulatory reform and competitive pressures have meant most corporate funds are struggling to meet the scale required to survive, according to an industry professional.
The final draft of the $3 million super tax legislation remains unchanged and will include the taxing of unrealised gains and no indexation.
Amid Australians’ growing penchant for seamless digital experiences, an industry professional believes the most successful superannuation funds will be looking to leverage technology for their members in a number of ways.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
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
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment