UBS has selected Morningstar Australasia, a subsidiary of Morningstar, to provide data and market commentary feeds into its platform for Australian superannuation funds.
Under the terms of the deal, Morningstar would be delivering market and equity data as well as editorial content to the UBS platform to help power the firm’s online investing solutions for superannuation funds.
UBS managing director, head of platforms, Scott Webster, said: “We selected Morningstar for a number of reasons, including ease of integration of their application programming interfaces (APIs) and deep data coverage of Australian markets.”
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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