Fund Product Updates
/New Product Updates
Spaceship launches active equities product
The Spaceship Earth Portfolio is the third fund in Spaceship Voyager, a managed funds offer from Spaceship. The Earth portfolio will invest in 38 international and domestic stocks in information technology, industrials, consumer discretionary and healthcare that advance one or more United Nations Sustainable Development Goals. Regular negative screens are applied. Managers are Jason Sedawie, Phoebie Jin and Tommy Rogulj.
Mercer releases climate analytics tool
Mercer’s new tool helps institutional investors assess companies committed to combating climate change and heading towards a net-zero economy. Analytics for Climate Transition (ACT) looks at a company’s commitment and ability to meet the goal of a net-zero emission target by 2050, and achieve an emissions reduction of 45 per cent by 2030.
The tool ranks portfolios from low-transition capacity and low-carbon risk to climate solutions via an assessment of emissions intensity, transition capacity and green revenues in the portfolio.
Existing Fund Updates
Merger successor fund transfer complete for IAG & NRMA super to Sunsuper
The IAG & NRMA Superannuation Plan and Sunsuper have now merged with the successor fund transfer - delayed - now complete. The original scheduled date was November 2019 to November 2020. There have been a few changes to insurance offerings and Putting Members’ Interests First legislation.
Club Plus insurance changes
OnePath, the insurer for Club Plus, has made some changes to the industry fund’s group insurance cover. Changes include death, total and permanent disability and income protection premiums reduced, while administration charges for insured members are being removed. Reductions are based on age. Default waiting periods will increase for some members, while sums insured for short-term IP is reducing from 90 per cent of salary to 80 per cent of salary plus superannuation guarantee.
AMP Capital closes Australian equities fund
A fund that has been open for nearly two decades, the AMP Capital Sustainable Share Fund, is being shuttered after its two portfolio managers, Genevieve Murray and Emily Woodland, resigned earlier in 2020. The closure is due to the fund’s small size and presumed inability to meet its objectives in future.
Ironbark winds up emerging markets small caps fund
The Ironbark Copper Rock Emerging Markets Opportunities Fund is being terminated by Ironbark Asset Management after the underlying manager closed. The fund was nine years old. Copper Rock is closing by the end of 2020 after recent changes to the company’s ownership structure.
