POWERED BY MOMENTUM MEDIA
Equity Trustees partners with CMLA
Equity Trustees has entered into agreements with The Colonial Mutual Life Assurance Society (CMLA) which will increase total funds under supervision to more than $100 billion.
Under the terms of the agreements, EQT subsidiary Equity Trustees would take on the trustee role for $10.5 billion of CMLA’s assets while another subsidiary, Equity Trustees Superannuation Limited (ETSL), would become the registrable superannuation entity (RSE) licensee for $4.5 billion of superannuation funds.
Additionally, CMLA and ETSL signed an agreement under which ETSL would continue to operate as administrator and life insurer of these funds.
“Each appointment is independent, and the funds will be overseen by separate specialist subsidiary trustee companies,” EQT Holdings’ managing director, Mick O’Brien said.
“In our superannuation and responsible entity businesses, our focus is on looking after the rights of members and unitholders within funds, independent of all other parties.
“Our recent investment in resources, including senior personnel and technology, strengthens our ability to support opportunities such as this. We look forward to partnering with CMLA.”
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
