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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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As the Australian financial landscape faces increasing scrutiny from regulators, superannuation fund leaders are doubling down on their support for private markets, arguing these investments are not just necessary but critical for long-term financial stability.
Australian Retirement Trust (ART) is leaning on its private asset allocation to help shield members from ongoing market volatility, as its chief economist stresses the importance of long-term thinking and diversification.
AustralianSuper is poised to cement its leadership in the superannuation landscape over the next five years, with fresh research forecasting a sharp shift in the sector’s power dynamics.
The Reserve Bank of Australia (RBA) has warned that significant liquidity pressures could arise in the superannuation sector if multiple risks materialise at once, potentially amplifying shocks in the financial system.
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