Quadrant Super has been approved by the Australian Prudential Regulation Authority (APRA) to launch its MySuper product on 1 July.
Chief executive Wayne Davy said approval was proof the small fund was ready for future superannuation reforms.
"The MySuper green light is a significant milestone for a boutique, member-owned fund like Quadrant," he said.
"This approval really acknowledges that regardless of size, a hard-working, not-for-profit fund like Quadrant is a strong contender in what it can offer members and their employers."
The fund pointed out that although only a super fund with a MySuper option could be nominated as a default option after 1 July 2014, 88 per cent of Tasmanians had not heard of MySuper.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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