POWERED BY MOMENTUM MEDIA
LGsuper adds to investment options post-merger
As the LGsuper-City Super merger comes into effect, the combined fund is now offering members more options and greater flexibility to mix and match investments.
Chief executive David Todd said that since the official merger on 1 July, there had been many product improvements to give members the best of both funds.
Some of the changes to products had been the introduction of single asset class investment options and two socially responsible investment options, as well as greater flexibility to mix and match investment options.
The fund has also introduced eight additional free investment switches per financial year, as well as new binding death benefit nominations.
Todd said the investment strategy remains largely unaltered as Towers Watson was the asset consultant to both funds, however some City Super mandates have been terminated, while others have been carried over to the merged fund.
Reductions in administration and investment management costs are also expected to be passed on to members from the start of the merger, he said.
The fund is continuing to work through the transition period up to September 2011 to bring City Super’s administration in house. Once complete, LGsuper will turn its focus to reviewing and consolidating the separate insurance arrangements in early 2012.
AUTHOR
Ashleigh McIntyre
Recommended for you
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
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(%)
