Kinetic Super has renamed the group’s financial services company from eo Financial Services to Kinetic Financial Services.
In April the group announced it would consolidate the divisions of Professionals Association Super under the new name, Kinetic Super, to launch a single MySuper product to target Australians’ increased mobility in employment.
The financial services company which forms part of Kinetic Super’s trustee offices group will now fly under the brand name Kinetic Financial Services and will deliver the same Trustee services.
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.