Tontines - an old product with some life in itBY STEPHEN FAY | FRIDAY, 11 DEC 2015 4:35PM An investment product comprising gambling, corruption and possibly murder designed for 17th century European monarchies to raise money for war does not immediately recommend itself ... Upgrade your subscription to access this article
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Cover Story
Climbing to the top
DANIEL SHRIMSKI
MANAGING DIRECTOR
VANGUARD INVESTMENTS AUSTRALIA LTD
MANAGING DIRECTOR
VANGUARD INVESTMENTS AUSTRALIA LTD
Vanguard Australia managing director Daniel Shrimski is determined to propel the investment giant's superannuation product into the top 10 funds by assets under management by 2030. It's an audacious goal, even for a fund backed by the world's second largest asset manager. Andrew McKean writes.
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Stephen, have you heard of Mercer LifetimePlus?
It is an investment option for an account-based pension where the longevity risk is shared with the other investors. No capital is needed. It's a mutual pool. If you live longer than others then you receive a living bonus from those who die a bit earlier. The outcomes are similar to a deferred annuity. Sound like a tontine? To some extent, but the last person standing doesn't win it all! It's fairer than that.