GBST gains Sunsuper mandate
Specialist financial services technology provider GBST has been retained by Sunsuper to provide after-tax performance benchmarking services for two of the fund's Australian equities mandates.
The new agreement was announced this week and is seen as underpinning the recent decision by the Sunsuper investment team to alter the performance objective of its Australian Equities mandates to a customised after-tax benchmark based on underlying S&P/ASX pre-tax indices.
The two companies said GBST Quant would provide the after-tax index benchmarks to Sunsuper.
Commenting on the move, Sunsuper Australian Equities and Hedge Funds product manager Bruce Tomlinson said it represented a major decision, in line with current market trends, to adopt a customised after-tax basis and an appropriate after-tax approach for the fund's current needs.
GBST Quant recently launched its pre-trade tax analysis tool, Tax Analyser, which it is marketing as the first solution in Australia to allow fund managers to see and manage superannuation fund level tax consequences of proposed actions, as part of the investment process.
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