POWERED BY MOMENTUM MEDIA
Sunsuper allies with Vanguard
Queensland-based fund, Sunsuper has entered into an alliance with investment firm, Vanguard Group, to "share expertise and resources".
The alliance was announced to the market today, with Sunsuper chief executive, Scott Hartley saying that as as the world's largest mutual investment manager, Vanguard shared common business values with the fund.
As part of the arrangement, Sunsuper will direct mandates for passive investment management to Vanguard "as appropriate and subject to favourable market conditions"
"This alliance represents a fantastic opportunity for Sunsuper," Hartley said. "Both Sunsuper's members and staff are set to benefit from the expertise and the $3 trillion global investment scale Vanguard brings to the alliance. It will give Sunsuper direct access to Vanguard's investment management expertise plus the ability to draw on a broad range of functions, including member services, product development, digital and technological development, and economic and market insights."
"Our aim is to extract as much value from the relationship as we can in order to pass the benefits of Vanguard's world-class expertise on to our customers in the form of new and improved products and services," Hartley said.
Vanguard Australia Managing Director, John James described the alliance as exciting saying it brought Vanguard's global scale to Sunsuper.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
