Tasmanian-based industry fund Tasplan has made an adjustment to its investment strategy, responding to concerns by its investment consultant Mercer that it is overweight Australian equities.
Tasplan investment manager Mark Williams said the fund had launched notice with AMP that it would be diversifying out of the AMP Infrastructure Equity Fund. The super fund has begun its search for a global infrastructure manager.
"Mercer will provide a recommendation at the next board meeting for a manager. They've narrowed it down to a short-list of managers based on their research, and then we'll select a manager based on that," Williams said.
Tasplan will remain invested in the IFM Australian Infrastructure Fund, which is concentrated in Pacific Hydro, he added.
AAS will continue to provide Tasplan with administration services, after a new five-year contract was signed effective 1 April 2011, according to Tasplan chief executive Neil Cassidy.
When it came to member engagement, Cassidy said Tasplan's social media strategy was "well ahead of everyone else in the industry".
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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