Fund Product, Company and Regulatory Updates as at 17 October

Product Updates

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SMA options from Praemium grow
Praemium has added 16 new model portfolios to its separately managed accounts offering. They have also added 27 new managed funds and 14 listed investment companies/ETFs.

Company Updates

EQT partners with pControl Oversight
Equity Trustees has partnered with pControl Oversight, a provider of investment operation and fund accounting solutions, owned by Milestone Group. This partnership will help to provide fund oversight for clients of Corporate Trustee Services.

Wheelhouse enters retail market
Wheelhouse Partners’ Wheelhouse Global Equity Income Fund is in partnership with Bennelong to launch a new fund to retail investors, having only operated in institutional and wholesale markets previously.

CBA changes staff incentives
The Commonwealth Bank has announced more changes to how frontline staff are rewarded, with an increased focus on customer service and outcomes instead of financial outcomes. Roughly 2,000 service representatives will move to this new remuneration plan along with 200 Bankwest branch tellers.

Intrust Super reduces premiums
From January 1 Intrust Super will drop its life and total and permanent disability covers by 7 per cent, rates will be locked for three years.