POWERED BY MOMENTUM MEDIA
Tasplan/Quadrant merger complete
More than a year after it was first canvassed, Tasmanian-based superannuation funds, Quadrant and Tasplan, this week completed their merger.
Announcing completion of the process, Tasplan chief executive, Wayne Davy said it had resulted in the creation of a bigger, stronger Tasmanian super fund that was already invigorating the Tasmanian economy and putting the State on the national super map.
"Tasplan is dedicated to seeing Tasmania thrive," he said. "This is not just lip service — we're doing it already through investments, employment and a commitment to excellence."
He outlined the fund's commitment to investment in Tasmania, saying the Tasplan Board had extended its commitment to investing in Tasmanian businesses through the Tasmanian Growth and Development Fund by a further $20 million.
Further, he said the fund had added to employment in the state by bringing its administration and call centre operations from the mainland to Hobart.
Davy said that to support its new business model, the fund had employed 38 new, local staff bringing the number of full time equivalent staff to 88, with more recruitment likely.
He said that as a result of the merger with Quadrant, Tasplan Super now had $3.3 billion in combined funds, 100,000 members, 15,000 employers, nine investment options, and 88 employees.
Recommended for you
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.
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.
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(%)
