Former UniSuper executive Chris Davies has been appointed chief executive of Telstra Super as the $13 billion-plus corporate superannuation fund unveils its new member direct platform.
Previously executive manager, member and employer solutions at UniSuper, Davies will fill the space left by Martin Crowe who announced his retirement earlier in the year.
The fund also announced the launch of its member direct option developed in conjunction with UBS.
It gives members access to term deposits through ME Bank, NAB and RaboDirect, with holdings managed by ANZ at higher than standard rates and online trading access to the local market.
Telstra Super acting chief executive Paul Curtin said it was the next phase in the fund's ongoing product development strategy.
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.