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ACS looks to change asset consultants
Australian Catholic Super is expected to announce that it has switched its asset consulting mandate after conducting a review of service providers.
The superannuation fund has been a client of Willis Towers Watson for the past five years and undertook a review of providers via Chant West earlier this year.
Super Review understands that Frontier Investment Consulting is the front-runner for the mandate, albeit that the appointment has not yet been formally announced.
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Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
AMP has made its first foray into bitcoin, confirming a modest allocation to the cryptocurrency, according to its senior portfolio manager.
Fund returns bounced back in November following a subdued October, with SuperRatings reporting 2.4 per cent return for the median balanced option.
Law firm Maurice Blackburn has announced it has reached a settlement with MLC over a class action alleging delays in transferring members to MySuper products.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
