POWERED BY MOMENTUM MEDIA
Tasplan/Quadrant merger complete
More than a year after it was first canvassed, Tasmanian-based superannuation funds, Quadrant and Tasplan, this week completed their merger.
Announcing completion of the process, Tasplan chief executive, Wayne Davy said it had resulted in the creation of a bigger, stronger Tasmanian super fund that was already invigorating the Tasmanian economy and putting the State on the national super map.
"Tasplan is dedicated to seeing Tasmania thrive," he said. "This is not just lip service — we're doing it already through investments, employment and a commitment to excellence."
He outlined the fund's commitment to investment in Tasmania, saying the Tasplan Board had extended its commitment to investing in Tasmanian businesses through the Tasmanian Growth and Development Fund by a further $20 million.
Further, he said the fund had added to employment in the state by bringing its administration and call centre operations from the mainland to Hobart.
Davy said that to support its new business model, the fund had employed 38 new, local staff bringing the number of full time equivalent staff to 88, with more recruitment likely.
He said that as a result of the merger with Quadrant, Tasplan Super now had $3.3 billion in combined funds, 100,000 members, 15,000 employers, nine investment options, and 88 employees.
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 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