MetLife regains group traction
Major insurer MetLife has regained some traction in the Australian group insurance market after earlier this month picking up the mandate for the Nationwide Superannuation Fund (NSF).
The NSF mandate represented a key step ahead for the company which had last a number of mandates over the past two years as players such as TAL ramped up their presence in the group space.
In the past two years it had found itself losing the First State Super mandate to Tower, but managed to maintain its longstanding relationship with MTAA Super.
Thus, the announcement last week regarding NSF Super saw it displacing OnePath as the insurance provider to the fund.
NSF Super fund secretary Ian Morante attributed the mandate win to MetLife's product and service offering, including the ability to tailor services to meet the needs of members.
MetLife chief executive Marc Lieberman welcomed the winning of the mandate and committed the company to meeting the fund's expectations, particularly with respect to claims handling.
MetLife will take responsibility for NSF Super from 1 July 2012.
Recommended for you
Dan Farmer, chief investment officer of MLC Asset Management, has detailed how its super fund allocations have evolved and whether the fund will consider investing in bitcoin.
Australia’s superannuation capital has been positioned to play a larger role in south-east Asia’s economic development under a new government-backed deal.
Superannuation funds have become the dominant force behind Australia’s private markets boom, fuelling unprecedented growth and reshaping manager operations.
Reserve Bank governor Michele Bullock has said the central bank sees private demand picking up over the next year, taking over from public demand.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
