Perpetual extends SMSF profile
Perpetual has moved further into the self-managed superannuation fund (SMSF) space with the acquisition of privately-owned SMSF administration provider smartsuper.
Perpetual announced to the Australian Securities Exchange that it had undertaken the acquisition, which would make Perpetual one of the leading providers of SMSFs and small APRA fund solutions in Australia.
The transaction is valued at $16 million, with Perpetual claiming it will be earnings accretive in the 2009 financial year.
Smartsuper was established in 1990 and now has funds under administration of around $2.3 billion. Commenting on the acquisition, Perpetual’s group executive, structured products and platforms,
Eric Wang, said it represented an important part of the company’s strategy.
Smartsuper will continue to operate under its current brand, with the company’s managing director, Andrew Bloore, suggesting the Perpetual acquisition will enable the company to draw on a wider range of resources.
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
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(%)
