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The number of investment managers winning institutional mandates has tanked 54% in less than two years as superannuation funds ramp up the in-house management of assets, Rainmaker Information research reveals.
Rainmaker Information will welcome Aman Ramrakha as executive director, research this month.
Brighter Super is shuttering both of its responsible investment options, saying it is in the best interests of members. It comes as the fund streamlines its investment menu to offer just one set of options.
Analysis shows an annuity that pays an income equivalent to the Age Pension would cost a retiree more than $500,000.
Vanguard Super has amassed $1 billion in funds under management in just over 12 months, while delivering the best-performing Lifecycle MySuper option of 2023 and quietly rolling out a retirement offering at half the cost of the incumbents'.