QSuper Limited, QSuper's wholly-owned administration company, has successfully secured an Australian Financial Services Licence (AFSL) to provide financial product advice on superannuation.
A QSuper spokesperson said the prospective start date for the AFSL licence is 1 July 2009.
At this time, the QSuper board of trustees is also seeking to become a non-public offer registrable superannuation entity licensee under the Superannuation Industry (Supervision) Act 1993.
"As a regulated fund, QSuper would be supervised by the Australian Prudential Regulation Authority (APRA). In effect this will provide an additional level of governance over the fund's operations," the spokesperson said.
In order to qualify for this licence QSuper has been building up its investment committee and internal investment resources.
Last week, QSuper appointed former QIC head of alpha Charles Woodhouse as general manager of funds management.
In April, QSuper appointed former QIC deputy chief executive Brad Holzberger as chief investment officer after he performed interim duties from November last year.
In late 2008 the industry fund also added three specialist members, including former QIC chief executive Ian Macoun, to its investment committee to assist the QSuper board of trustees with managing its investments.
