RBF introduces default option
RBF has introduced a new product default option, RBF MyPath.
According to the company, RBF MyPath applies a lifecycle strategy designed for members who want RBF to utilise its skills and expertise to manage their superannuation investments throughout their different life stages.
It said that over 48,700 RBF members — with funds under management of close to $1.76 billion — transferred to RBF MyPath in March.
Acting Chief Executive Officer Nick Connor said members had been segmented into 10 RBF MyPath groups, or target date funds, based on members' dates of birth in five-year cohorts.
"Each RBF MyPath group follows a glidepath with the investment strategy of the cohorts changing through the lifecycle as the members approach retirement," he said.
"Up until the age of 50, investments will focus on growing member's superannuation wealth. From the age of 50, members' investments will gradually be de-risked until the age of 65, where the investment will shift to a conservative strategy designed to offer more security for members' capital investments as they approach retirement."
AUTHOR
Staff Writer
Recommended for you
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
Sequoia Financial Group has seen a top-level reshuffle as the chair of the board, John Larsen, steps down after five years in the position.
As statements of advice move into the rear-view mirror, Vital Business Partners explores how financial advisers are adopting innovative documentation strategies.
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.
