POWERED BY MOMENTUM MEDIA
HESTA reappoints J.P. Morgan
J.P. Morgan has retained its custody mandate with major industry health-focused industry superannuation fund.
HESTA announced today that it had reappointed J.P. Morgan as its custody and fund services provider for the next three years, continuing a more than 20-year partnership.
Confirming renewal of the mandate, HESTA chief executive, Debby Blakey said the renewal had followed a comprehensive review process focused on achieving industry-leading investment execution and ongoing value for members.
“We have an ambitious five-year investment strategy and we also looked closely at how our custodian can support us to continue to deliver outstanding investment implementation and performance for members,” Blakey said.
“We’re focused on building our internal investment capability and capacity,” she said. “Accessing leading global investment thinking and leveraging new collaborative opportunities with existing partners, like J.P Morgan, underpins this strategy.”
HESTA announced a five-year investment strategy last year which saw the appointment of two executives – Sonya Sawtell-Rickson as chief investment officer, and Rob Fowler as executive, Investment Execution.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
