Sunsuper has chosen GBST to provide after-tax performance measures for two of the superannuation fund's Australian equities mandates.
The partnership supports Sunsuper's recent move to an after-tax performance objective based on underlying S&P/ASX pre-tax indices for its Australian equities mandates.
Sunsuper previously used the Association of Superannuation Funds of Australia (ASFA) FTSE benchmark but has moved to a customised benchmark with GBST after a 12-month consultation period.
Sunsuper's portfolio manager for Australian equities and hedge funds Bruce Tomlinson said it was a major decision that aligned with current market trends.
GBST Quant Division's Kathy Taylor-Hoffman said customised after-tax solutions aligned better with fund managers that used the S&P benchmark.
Taylor-Hoffman said clients often started using after-tax benchmarks before incorporating after-tax considerations more fully into their processes.
She said GBST's customisable after-tax services were directly contributing to the current appeal of the after-tax investment approach.
"We are delighted to be working with one of the earliest adopters of an after -tax performance measurement regime and enabling the evolution to a customisable after-tax benchmarking environment which we believe is more aligned with the fund manager's investment processes," she said.
GBST already provides after-tax services for a range of super funds and fund managers including Unisuper, Cbus and Warrakirri Asset Management.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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