Superannuation administrator, Link group has retained a key mandate with legalsuper announcing that it would be extending what has already been a 15-year association with the administration company.
Confirming the move, legalsuper chief executive, Andrew Proebstl said the reappointment had followed a rigorous competitive review which had had covered organisational strength, technology infrastructure, pricing and compliance.
He said the review process had been assisted by consultancy KPMG.
Proebstl said legalsuper had sought expressions of interest from six fund administrators but that it had opted for Link on the basis of new arrangements including daily unit pricing and increased transparency and immediacy around member account updates and transition to a new direct investment platform offered by UBS.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.