Fund Product Updates
/New Product Launches
Russell launch personalised super product
A new personalised superannuation product has been launched by Russell Investments to replace its MySuper offering, GoalTracker. Russell says it’s the first personalised superannuation product in Australia. The fund will cost the same as the MySuper default. The personalisation comes from algorithms to predict what someone might like by looking at what they’ve consumed in the past, much like Netflix or Spotify.
Members can choose their preferred lifestyle in retirement, from modest to aspirational, with choices in the system going so far as to how often someone might like to go to a restaurant in retirement. The system then works out how much a member will need to get those things in retirement. GoalTracker then develops an asset mix and investment strategy accordingly.
MSCI launch indices for Australian market
The MSCI group has launched the first single-country domestic indices outside of the United States, introducing 52 new indices for the Australian market. The first two indices are soon to be launched by a large superannuation fund. The new indices include 16 factor indices, nine ESG-focused indices and 11 themed indices for Australia. There are plans for further indices launches across the Asia-Pacific region.
The Big Issue launches impact-investment platform
The Big Issue Group in the United Kingdom has launched The Big Exchange, a new platform offering over 30 ESG options. Big fund managers are taking part in the platform, such as Aberdeen Standard Investments, AllianceBernstein, Columbia Threadneedle and Stewart Investors. Options are rated gold, silver and bronze based on their ESG impact, with users able to choose from three accounts for their investments. Platform and administration fees are low.
Australian Unity launches new healthcare fund
The Australian Unity Future of Healthcare Fund is now in the market, promoting itself as a fund aiming to increase the health and wellbeing of Australians by investing in community healthcare projects. Australian Unity says the fund is the first of its kind, investing across a range of sectors and asset classes, from venture capital to social infrastructure like medical real estate.
Vanguard launches Australian shares ESG-focused ETF
A new exchange-traded fund (ETF) from Vanguard, the Vanguard Ethically Conscious Australian Shares Fund, invests in 240 ASX-listed shares that have been through some standard ESG screening.
Existing Product Updates
ClearView finalised the successor fund transfer for risk-only superannuation products to HUB24
ClearView has completed its successor fund transfer of risk-only super products to HUB24. ClearView is moving its clients from LifeSolutions Super and Super Rollover products to the HUB24 Super Fund. These clients will no longer be members of the ClearView Retirement Plan. The trustee is shifting from ClearView Nominees to Equity Trustee’s HTFS Nominees. Insurance arrangements remain the same.
BT closes two funds
Due to a lack of investor demand, BT is closing two single-manager funds that have both been open for more than a decade:
BT Partner Australia Shares Growth 1 Fund
BT Partner International Shares Core 1 Fund
