POWERED BY MOMENTUM MEDIA
Equip and Rio Tinto Staff Super Fund to merge
Equip and Rio Tinto Staff Superannuation Fund have confirmed that the funds will merge on 1 July 2017, and that acting chief executive Nicholas Vamvakas will lead the fund as CEO.
The $14 billion fund would continue under the Equip name with a membership of over 75,000.
Along with Vamvakas’ appointment, the restructured Equip board has appointed two additional independent directors, moving the fund to the one-third/ one-third/ one-third governance model.
Equip chair, Andrew Fairley AM, said Vamvakas would lead the larger fund into a new era for its members and employers, to give scale and resources to continue investment in industry-leading products and services, while keeping fees and costs as low as possible.
“The expectations of members and employers are now much greater than ever before and have moved beyond meeting the traditional needs for strong investment returns, good governance, risk management and compliance,” Fairley said.
“They now extend to on-demand access to support and advice across multiple channels, including digital and they expect those services to be tailored to their individual needs.”
Fairley noted that the fund had established a clear and unique position in the corporate superannuation marketplace, which bridged the gap between profit-for-member industry funds and retail master trusts.
“Our focus will be to provide personalised services to members and customised reporting and advice to corporate clients. This will be the key future retention and growth and help members to achieve financial security in retirement,” he said.
The member directors of the board are Jan Dekker, Pippa Leary, and Jane Simon. The employer directors appointed are John Azaris, Mark Cerche, and Michael Clinch. The board’s independent directors are Andrew Fairley, Justine Hickey, and Wayne Walker.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
