POWERED BY MOMENTUM MEDIA
(February-2004) SMF scores a ton of funds
Acquisitive Victorian-based SMF Funds Management has scored a win by picking up a further $100 million of funds under management comprised of around 100 corporate superannuation funds, following its purchase of a segment of Mellon’s FutureLink Master Trust.
The acquisition is part of SMF Fund Management’s strategy to focus on the larger end of the corporate market and follows a tender process commissioned late last year and conducted by PricewaterhouseCoopers aimed at identifying and selecting a provider for small and medium-sized employers.
As a result of the transaction, SMF now boasts over $2 billion in funds under management.
SMF managing director Chris Kelaher says the Spectrum Plan was identified as a competitively priced master trust that possesses extensive resources and provides a high level of personalised service.
The acquisition will result in corporate funds being subject to a successor fund transfer into SMF’s Spectrum Master Trust with members expected to complete the transfer this month.
Kelaher attributed the SMF win to its possessing the capability to offer members additional tailored superannuation benefits.
“The purchase continues a period of strong growth for the SMF group and underlines the popularity of master trust platforms in the Australian financial services industry,” he says.
SMF has been on a strong acquisition path since early last year when it picked up the super business of OFM Investments. More recently it acquired smaller dealer group, LynchPin Financial Services.
Recommended for you
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.
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
43.78 3 y p.a(%)
