POWERED BY MOMENTUM MEDIA
Telstra partners with UBS for new investment options
Telstra Super is working with international broker UBS to deliver its direct investment options to members by the second quarter of 2013.
'Direct Access' will include term deposits and shares and is aimed at giving more control to members. The investment option will roll out initially to accumulation members before being expanded to include an income-stream version.
In August, Telstra Super chief financial officer Christine Liosis said the fund had lost 71 per cent of its members to self-managed super funds and would roll out direct investment options in 2013 as a way to stem the outflow of members.
Telstra Super general manager development and distribution Kevin Moloney said the new investment option built on a number of initiatives the fund had developed for members over the year.
"We are excited to introduce the next phase of Telstra Super's long-range product development strategy, having already launched two new investment options, Defensive Growth and Diversified Income, as well as a successful health insurance alliance, all of which have received strong support from members over the past three years", he said.
According to Moloney, Direct Access would be underpinned by an integrated online and print communications and education program, as well as via the fund's face-to-face seminars, which fed into Telstra Super's responsibility to members to provide financial literacy tools.
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(%)
