POWERED BY MOMENTUM MEDIA
Link Group extends contract with AustralianSuper
Major superannuation administrator, Link Group has announced it has extended its contract with AustralianSuper for another four years, commencing 1 July, under which it will continue to provide superannuation administration and customer engagement services to the fund.
This would include automated back office processing and engagement activities spanning contact centre operations to insurance claims processing as well as provision of technology, digital, cyber-security and data services.
Link Group’s managing director, John McMurtrie, said: “As Australia’s largest superannuation fund, AustralianSuper is able to play a critical role in reshaping the value and uplifting expectations about what a super fund can deliver for members and their employers.”
The key terms of the contract were:
- Link would need to meet certain performance standard with a service regime linked to performance;
- A right to terminate for any material breach that cannot be remedied; and
- A fee per member for core services in conjunction with transactional fees and fee for service charges for relevant services.
Recommended for you
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.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
