Queensland-based local government focused industry fund, LGIA Super has changed asset consultants – choosing JANA to replace Willis Towers Watson.
The decision to choose JANA ended the fund’s 17-year relationship with Willis Towers Watson.
Confirming the move, LGIA Super chief executive, Kate Farrar said the appointment reflected JANA’s deep understanding of members’ needs.
“As a boutique fund, LGIA Super appeals strongly to high value members starting to think about retirement and wanting confidence that their fund’s investment strategy is going to protect them from market downturns, while taking advantage of the considerable growth opportunities in the mid-market,” she said.
The selection of JANA followed a competitive tender process.
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.