POWERED BY MOMENTUM MEDIA
Link loses CareSuper, confirms Budget impacts
Major superannuation fund administration parent company, Link Group has notified the Australian Securities Exchange (ASX) that the Government’s Budget superannuation changes will have a material impact on the number of members administered by its fund administration division.
The administrator also confirmed that it had lost the administration mandate for CareSuper – something which represented about one per cent of its proforma revenue.
It said the likely reduction in members being administered would flow from the Budget changes to the treatment of inactive superannuation accounts from 1 July, next year, when member balances of less than $6,000 which had been subject to no contributions for 13 months would be transferred to the Australian Taxation Office and the account closed.
The Link ASX announcement said that, in its current form, the Government’s proposal might have a material impact on the number of members administered by Link Administration Holdings.
However, it said Link could not yet quantify the net effect on its fund administration revenue at this time.
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
