GESB closes A$6.3m switching loophole

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AUSTRALIA - The Government Employees Superannuation Board (GESB) has closed a loophole in its member investment switching process that allowed certain members to gain an unfair financial advantage at the expense of others.

The A$7.3bn fund provides an investment switching capability for its market linked products that allows members to change their asset allocation between major asset classes. "As GESB’s funds are...

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