Forensic investigation clears Sunsuper
Queensland-based funds management group Trinity Limited has given Sunsuper a clean bill of health on allegations that money paid to a Queensland lobbyist related to an investment by the superannuation fund in the Trinity Property Trust.
Trinity’s chairman, Brett Heading, not only cleared Sunsuper of any involvement but apologised to the fund, its board and its members for “the unnecessary distress and embarrassment brought about by this matter”.
His Australian Securities Exchange announcement came after the findings of a forensic examination carried out by Deloitte Touche Tohmatsu into a $1 million payment made by Trinity to the lobbying firm Veritate Pty Ltd.
Heading said the forensic examination had also determined that there had been no involvement by current Trinity officers and staff in relation to the arrangement negotiated with Veritate.
He said Trinity had engaged senior legal counsel to advise on legal action in relation to the $1 million payment.
AUTHOR
Mike Taylor
Recommended for you
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
Despite the perception that short-term market events shouldn’t affect portfolio decisions, Praemium research finds 60 per cent of advisers have made portfolio changes in response to US President Donald Trump’s decisions.
International advice group Findex has appointed a senior individual to spearhead its M&A and growth operations across Australia and New Zealand, seeking to make the brand a household name.
