Corporates master super

CORPORATE superannuation trustees are increasingly looking to masterfunds, says AM Corporation national manager of corporate superannuation Grant Wilson.

“Apart from the administration hassles and trustee risks, corporate super trustees are increasingly choosing masterfunds – and needing adviser help – because they can’t easily offer investment choice,” Mr Wilson said.

“Corporate super is likely to be a significant business generator for advisers, especially given the requirement of employers to pay 7 per cent of salaries increasing to 9 per cent in 2002.

“As corporate super funds are mostly defined contribution funds – generally providing only superannuation guarantee – it is now easier for advisers to look after them,” he said.

AM’s new LifeTrack Corporate Superannua-tion Fund will focus on mid-sized and large corporate funds currently being operated in-house and looking to move to a mastertrust.