US-based asset consultant gains super foothold
In what represents a break from the norm, meat industry-based superannuation fund AMIST Super has opted to appoint a US-based asset consult.
AMIST has appointed Cambridge Associates as its asset consultant, replacing National Australia Bank owned JANA.
The move was confirmed by AMIST Super chief executive, James Thomas, who acknowledged that it represented an end to a 10 year relationship with JANA.
"JANA have been very good to us", Thomas said, "In a competitive landscape with increased pressure on super funds to perform it was felt that Cambridge's philosophy would prove beneficial for the members of AMIST Super".
He said the fund had been attracted to Cambridge because of the firm's depth of knowledge, extensive worldwide research capability and a tailored approach to meeting the trustees' needs.
AMIST Super represents Cambridge Associates for Australian superannuation client to take their full-service model and will be serviced by the company's Sydney-based team.
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.
