POWERED BY MOMENTUM MEDIA
MLC Business Super aligns with retail platform
MLC Business Super has taken advantage of some of its retail investment options, aligning its investment menu with the MLC Masterkey Fundamentals platform and adding nine new investment options.
"Any new developments that come through the Masterkey platform we can offer to business super," MLC Business Super general manager Michael Mulholland said.
Mulholland said the changes to Business Super had been developed over the past three years in response to a need for better customer engagement.
It would "revolutionise the operations area, the products area and the member experience in particular," he said.
MLC Business Super had operated as a traditional superannuation player, Mulholland said, a mode of operation which no longer "cut it" due to changes in communication methods like mobile and social.
Mulholland expected further changes to take place around the business' commission structure and remuneration to fit in with the Future of Financial Advice (FOFA) reforms.
MLC has also partnered with DST Global Solutions (Bluedoor) to roll out a number of changes to the MLC Masterkey Super and Pension Fundamentals products.
DST said it was enhancing the MLC Masterkey platform and Horizon series managed funds.
"We required a complete solution capable of integrating into our existing technologies, and selected Bluedoor as the best choice following a global tender process," Andrew Barnett, general manager of MLC Retirement Solutions, said.
MLC plan to release a number of retirement guarantee products for retail customers.
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
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.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
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(%)
