POWERED BY MOMENTUM MEDIA
LESF transfers to Diversa
The trusteeship and administration of $78 million Queensland legal industry fund, Law Employees Superannuation Fund (LESF), has been transferred to Diversa Limited.
Its 3800 members will join the members of 22 other super funds to whom Diversa provides specialist products and services.
"We will now apply the Diversa management framework that we use with the other funds that we promote, to LESF," Diversa group managing director Stuart Korchinski said.
"That framework has, for example, seen Diversa increase the number of TIS/Transport Super's large employers by 30 per cent since March 2013, and our investment services delivered a 17.6 per cent investment return (net of investment fees) for the balanced strategy of the Managed Australian Retirement Fund for the year ended 30 June 2013, which is above median."
The transfer of LESF has brought Diversa's funds under management and administration to approximately $1.5 billion.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Deloitte Access Economics has raised concerns about the government’s recent changes to the Future Fund’s investment mandate, questioning the necessity and implications of the reforms.
An industry body has praised the strong backing from institutional investors for Australia’s transition to renewable energy.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
