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AustSafe initiates administrator review
Industry fund AustSafe Super has initiated a process to find a new administrator.
The fund, which boasts $1.6 billion in funds and more than 140,000 members, has retained Deloitte to undertake the tender process.
AustSafe has previously utilised Superpartners as its administrator.
Superpartners was sold to the Link Group, the parent company of Australian Administration Services, with the transaction being completed in mid-December.
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The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
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