Australian Catholic Superannuation (ACS) has appointed Frontier Advisors as its asset consultant, taking over from Willis Towers Watson, citing a lack of product conflict with Frontier as central to its decision.
Frontier would assist ACS with investment strategy and portfolio construction advice, as well as providing access to its highly-regarded technology platform for manager research insights and portfolio analysis.
ACS was the third super fund to sign up with Frontier in the last year, with the Frontier chief executive, Andrew Poulson, saying the recent client additions were down to a unique proposition.
“As both the regulatory and investment landscape look set to become more challenging, the unconflicted nature of our offering is becoming increasingly valued by more investors,” he said.
ACS chief executive, Greg Cantor, said that while Frontier’s market performance across a range of metrics were a selling point for the firm, a key factor was that “from a governance perspective, the alignment of interests that an independent consultant offers was very important to our Board”.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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