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Navigator asserts its position

THE overall winner of this year’s ASSIRT Service Level survey was the Navigator master fund.

The survey asked 495 investment advisers to assess the performance of 27 fund managers, master funds and wrap accounts against 40 key service attributes.

“The key purpose of the awards is to assess and reward those institutions that are providing exceptional levels of service,” ASSIRT chief executive officer Krystyna Weston said.

Navigator, run by Norwich Union, has grown rapidly in the past year and has more than $7 billion in funds under administration.

It was followed in equal second place by St George Bank’s ASGARD (with $9.3 billion under administration) and AXA Australia’s Summit Master Trust (with just more than $2 billion).

The award for best fund manager went to Colonial First State, followed by Zurich, Perpetual and Norwich Union.

Ms Weston said the survey revealed four groups of advisers, based on the service attributes they valued above all others.

The four attributes can broadly be described as: responsiveness to needs, investment management, technical skills and speed of service.

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