Fund Company Update

Australian Unity unifies business arms, creates new business

Australian Unity has combined its wealth and capital markets funds management businesses to form Australian Unity Funds Management. The dedicated business will be made up of wealth and capital markets’ investment capabilities in several areas, from healthcare to emerging companies. The new business will be led by chief investment officer Joe Fernandes, while executive general manager of property, Mark Pratt, will leave after the transition is complete.

Fat Cat Funds reveals worst performing super funds

Stockspot’s Fat Cat Funds Report has listed the worst-performing superannuation funds in Australia - all retail funds, as is traditional. Top of the list was OnePath as overall worst performer, followed by Colonial First State, AMP and then ClearView. Best overall performer was Qantas Super, followed by UniSuper, HESTA, AustralianSuper and IOOF.

The results are from over 500 multi-asset investment options offered by Australia’s most popular 90 super funds. Performance was evaluated after fees and compared to other investment options of similar risk over five years.