Industry fund legalsuper has made a series of changes to its investment manager line-up.
Legalsuper's changes to its line-up are a result of a 12-month review across all major asset classes, a statement said.
Outgoing managers include: Perennial (cash and 'enhanced' cash), Colonial First State (global credit), Integrity (Australian equities), Platinum (international equities), and T. Rowe Price (Asian equities).
Legalsuper has replaced the managers with Colonial First State (cash and 'enhanced' cash), QIC Inflation Plus Fund (fixed interest), Hyperion (Australian equities), American Century (international equities), Sanders (international equities), and Schroders (emerging market equities).
Legalsuper chief executive Andrew Proebstl said: "These changes in investment managers refine legalsuper’s investments for continued strong performance over the longer term."
"We changed [our] asset consultant in April 2013 and since then have been methodically reviewing all aspects of legalsuper's investment arrangements," Mr Proebstl said.
"This review has culminated in the delivery of both strong investment performance and lower fees.
"It's certainly good news for our members," he added.
MLC Life Insurance has been appointed as Maritime Super’s new group insurer following an extensive tender process. ...
The Australian Institute of Superannuation Trustees have called on the incoming government to develop an online tool to help Australians mak...
AMP is planning to reduce its superannuation products and investment options as part of its bid to regain customer trust post-royal commissi...