Fund Product, Company and Regulatory Updates as at 26 November 2019

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Product Updates

AMP North platform undergoes technology enhancements

North is undergoing enhancements to its online functionality, better servicing advisers and clients on MyNorth and North wrap platforms. The platform has undergone a redesign, the fee calculator has had an upgrade, and the system has new client-management capabilities. AMP is hoping to offer advisers and clients a more efficient, better experience. The changes come into effect from 25 November 2019.

Mercer, Media Super, closing Income Plus investment option

Mercer (and any funds that have white-labelled the product such as Media Super) is winding up the Income Plus investment option due to underperformance. The Income Plus option is a white-labelled Mercer product, with Mercer winding up the fund, forcing everyone else to follow suit.

PIMCO launching Australian listed trust

PIMCO is introducing its first closed-end listed investment trust to Australian investors who are after yield and income. The trust aims to provide unique access to multi-sector income investment opportunities from across the globe in both public and private investments.

The trust will be managed by group chief investment officer, Dan Ivascyn; managing director and co-head of Asia-Pacific portfolio management Rob Mead, and managing director and portfolio manager Alfred Murata.

Cbus launches corporate super offer

Cbus Corporate Super is now on the menu for members joining through their employer. Any employer with 50 or more eligible employees can use the product, with a minimum of 30 insured members mandatory. The product offers tailored insurance for members, depending on their job, with members defaulting into the Cbus Growth MySuper option.