Media giant News Corp is making a push into the trillion dollar superannuation industry, with its investor publication Eureka Report to provide subscribers with a super product.
News Corp is currently in “final negotiations” with investment platform provider OneVue to provide a digital direct offering for Eureka subscribers which includes super and pension solutions and services for self-managed super funds.
User testing for the service is expected to start next month, with a public launch date to follow.
At the end of the June quarter this year, The Association of Superannuation Funds of Australia (ASFA) reported the value of superannuation assets in Australia is at $1.85 trillion.
In a statement to the ASX, OneVue said: “OneVue and Eureka Report expect to executive binding agreement imminently, subject to final negotiation. Although there has been comment in the media, certain other information about the arrangement is confidential between the parties.”
As a result of the negotiations, OneVue, which was listed on the ASX in July, is currently in a trading halt pending an announcement.
It follows news in January that the Eureka Report had obtained an Australian Financial Services Licence (AFSL), giving it the ability to provide explicit buy and sell advice. Editor-in-chief Alan Kohler also gained accreditation as a qualified securities adviser.
Eureka Report currently has a joint venture with Clime Asset Management, which provides stock valuation and research solutions which is combined with Eureka's analysis.
News Limited bought Eureka Report in June 2012.
News told AdNews it was unable to comment further until negotiations were finalised.
For more news see:
Q&A Steve Coll Droga5: Must is a great master
Mobile making progress in conversion
Sportsbet shifts marketing spend from racing to sport
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day. Need a job? Visit adnewsjobs.com.au.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.