RBF introduces default option
RBF has introduced a new product default option, RBF MyPath.
According to the company, RBF MyPath applies a lifecycle strategy designed for members who want RBF to utilise its skills and expertise to manage their superannuation investments throughout their different life stages.
It said that over 48,700 RBF members — with funds under management of close to $1.76 billion — transferred to RBF MyPath in March.
Acting Chief Executive Officer Nick Connor said members had been segmented into 10 RBF MyPath groups, or target date funds, based on members' dates of birth in five-year cohorts.
"Each RBF MyPath group follows a glidepath with the investment strategy of the cohorts changing through the lifecycle as the members approach retirement," he said.
"Up until the age of 50, investments will focus on growing member's superannuation wealth. From the age of 50, members' investments will gradually be de-risked until the age of 65, where the investment will shift to a conservative strategy designed to offer more security for members' capital investments as they approach retirement."
Recommended for you
AZ NGA’s CEO has unpacked how its recent $345 million debt facility from Barings will accelerate its advice network’s growth ambitions, and allow its largest firms to access a greater source of funding.
Research by Colonial First State has found women are reluctant to make retirement preparations, despite 62 per cent saying they feel that they are unable to achieve a comfortable retirement.
Managed accounts saw net inflows of $14.3 billion in the six months to 31 December, according to the latest IMAP FUM census.
The increased bids for Insignia from Bain and CC Capital value the company at $3.3 billion, while there is still a possibility for competing bids from rival players such as Brookfield.
