Super funds insourcing services
Superannuation funds are likely to reduce the degree to which they outsource services and increasingly seek to deliver value to members themselves.
That is the assessment of ClubPlus Super chief executive, Paul Cahill, who told Money Management's Platforms and Wraps Conference that superannuation funds, including industry funds, were bringing an increasing level of functions in-house.
Further, he said he believed that this was something that would only increase over time.
However, Cahill said he believed it was unlikely that comparatively smaller funds such as ClubPlus would bring investment management significantly in-house, as this was something was something that required scale.
"That is something for the mega-funds," he said.
Cahill said he believed that while superannuation funds might well deliver a MyPension product in similar terms to the way in which they had delivered MySuper products, annuities represented an entirely different proposition.
"Annuities require very large account balances and that is not all that common," he said.
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