POWERED BY MOMENTUM MEDIA
IFAA starts SuperStream processing
Brisbane-based Independent Fund Administrators and Advisers announced it has started processing SuperStream files received from the Westpac gateway.
Supported by Financial Synergy's Acurity platform, IFAA said it has processed over $500,000 in employer contributions to date, although it has run into a few glitches and processing mismatch problems.
Managing director Neil Harvey said a few factors resulted in exceptions and processing mismatches like member name changes due to marriage, and some items needing more investigation.
Financial Synergy CEO Stephen Mackley said: "We knew there would be a fundamental shift from having pure processing roles to knowledge workers responsible for investigating and resolving exceptions."
He said he wanted his platform to process most of the transactions directly, with support administrators then looking after exceptions.
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(%)
