Sunsuper has chosen GBST to provide after-tax performance measures for two of the superannuation fund's Australian equities mandates.
The partnership supports Sunsuper's recent move to an after-tax performance objective based on underlying S&P/ASX pre-tax indices for its Australian equities mandates.
Sunsuper previously used the Association of Superannuation Funds of Australia (ASFA) FTSE benchmark but has moved to a customised benchmark with GBST after a 12-month consultation period.
Sunsuper's portfolio manager for Australian equities and hedge funds Bruce Tomlinson said it was a major decision that aligned with current market trends.
GBST Quant Division's Kathy Taylor-Hoffman said customised after-tax solutions aligned better with fund managers that used the S&P benchmark.
Taylor-Hoffman said clients often started using after-tax benchmarks before incorporating after-tax considerations more fully into their processes.
She said GBST's customisable after-tax services were directly contributing to the current appeal of the after-tax investment approach.
"We are delighted to be working with one of the earliest adopters of an after -tax performance measurement regime and enabling the evolution to a customisable after-tax benchmarking environment which we believe is more aligned with the fund manager's investment processes," she said.
GBST already provides after-tax services for a range of super funds and fund managers including Unisuper, Cbus and Warrakirri Asset Management.
