John McMurtrie has announced he will be retiring as managing director of major superannuation funds administrator, Link Group, exiting the business next year.
His replacement is QBE executive, Vivek Bhatia.
McMurtrie is regarded as a significant loss to the company, having led it for over more than two decades building it into one of the largest superannuation funds administrators in Australia on top of its origins as a registry business.
McMurtrie said he would be working with Bhatia for a seamless transition before leaving next year.
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.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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