INGhas made a swathe of upgrades to its Integra superannuation fund as it attempts to market the product as a “more rounded” offering rather than standing out for any one feature.
Integra, a superannuation fund for small to medium employers, has had 23 new investment funds added as part of the upgrade to bring its total number of funds to 48.
ING has also added marketing and support tools to assist financial advisers in selling Integra to employers and boosted its service and administration resources.
ING head of employer super Tom Griffiths says that research undertaken by Business Owner Research of employers found it was becoming difficult for them to differentiate products on single features.
Griffiths says the research showed employers wanted a rounded offering including customer service and streamlined administration, a dedicated account manager, fund member education and investment choice.
“We have designed enhancements to make Integra strong in key areas, and it is easy to use, has a full range of features and is competitively priced,” Griffiths says.
The changes include lowered group life rates, improvements to its financial education service and dedicated transition management service for plans with more than 50 members.
“Integra currently manages approximately 28,000 funds for 550,000 employees and the upgrades position Integra for growth,” Griffiths says.
In other ING news, the ING Industrial Fund has sold a non-core property in Queensland for $4.8 million, representing a premium of 11.6 per cent over its current book value of $4.3 million.
