Watson Wyatt has sought to use the granting of a RSE license by the Australian Prudential Regulation Authority to enhance its positioning in the superannuation outsourcing environment.
Watson Wyatt Australia director, Brad Jeffrey pointed out that the RSE licence granted to the company was an Extended Public Offer licence, which meant that Watson Wyatt could act as the trustee for both public offer and non-public offer funds.
This followed the comment by his fellow director, Andrew Boal that Watson Wyatt was already the director of five superannuation funds with more than $1 billion in combined assets and had the advantage of not being conflicted by involvement in investment, insurance or master trust products.
“This gives Watson Wyatt a strong governance structure that avoids a number of important conflicts of interest,” he said.
“In addition, there has been quite strong interest expressed recently by several more funds with a wide range of asset sizes,” Boal said.
