POWERED BY MOMENTUM MEDIA
GBST delivers live contributions
SuperStream gateway provider GBST announced it has delivered its first live SuperStream electronic choice contributions messages.
It started live contributions on 4 August, and made the first delivery of SuperStream-compliant contributions from employers to super funds, including self-managed super funds (SMSF).
"This level of automation will contribute positively to Australia's rapidly growing SMSF sector," CEO of GBST Wealth Rob De Dominicis said.
"Enabling safe and successful delivery of contribution information to the SMSF sector is key to making SuperStream a reality for employers."
GBST said Class Super is receiving contributions and processing through to end ledgers on behalf of its clients.
This includes the processing of contributions for an SMSF member from their employer via payroll provider, superannuation cleaning house and SuperStream gateways, direct into the super fund's general ledger.
Class said its SMSF SuperStream offering DataFlow is part of its first SuperStream group to start receipt and processing of contributions from employers through to funds using the new data standard.
Recommended for you
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment