POWERED BY MOMENTUM MEDIA
(April-2003) Equipsuper powers up with Quenos fund
Equipsuper has received a boost with the trustees of Qenos Superannuation Scheme, a corporate fund with assets of $110 million, deciding to roll its members into the multi-employer fund.
Equipsuper now has more than $1.6 billion in assets and 21,000 members.
Other corporate funds that have also joined Equipsuper in recent times have been Iveco Trucks, Corrs Chambers Westgarth in Melbourne, DST International, Abigroup, Origin Energy and the Edison Mission Energy Super Fund in Victoria.
Equipsuper CEO Robin Burns says the funds are driven by a tougher compliance and investment environment to merge or outsource, with renewed focus on core businesses.
“Superannuation is becoming increasingly complex. There are more licensing requirements being introduced and a heavier demand on management for the time and effort involved,” Burns says. “Also, with investment markets turning down, it’s probably making a few companies think that [outsourcing] is something they should be looking at.
“Companies are increasingly specialising and I think it’s probably generally the view that something so complex is best managed by someone who does nothing but super.”
Recommended for you
The responsible investment body is warning that a one-size-fits-all ESG framework mirroring those in the UK and the EU could do more harm than good.
Australian super funds are monitoring the US closely as President Donald Trump increasingly intervenes in corporate policy, moves that are reverberating through global markets and prompting reassessments of portfolio risk.
Industry fund HESTA has filed an appeal against an ATO decision on tax offsets from franking credits, with the Australian Retirement Trust set to file a similar claim soon.
The latest superannuation performance test results have shown improvements, but four in 10 trustee-directed products continue to exhibit “significant investment underperformance”, warns APRA.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.15 3 y p.a(%)
