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.
APRA has announced that it will watch super funds more closely and has not ruled out naming and shaming underperforming funds. ...
The head of Australia’s largest industry superfund has warned of the significant changes afoot for those working with other people’s ret...
AMP has reported seeing a spike in queries about early access to super in February. ...