the issue isn't just insurance, some superfunds have become hollow corporations who have well paid executives, managers and investment strategy staff but with all the actual administrative functions and customer contact outsourced to companies like Link and others. Essentially the superfunds become a branding company or marketing entity. Link has become a linchpin though because it's the outsourced provider of some of the largest funds and has gained too big too fail kind of status. In banking it would never be allowed for the big 4 to outsource all their core systems and customer contact to the same provider which is what these large superfunds have done. I saw the reports of the low morale amongst workers at Link appearing on job review websites, I know one of the funds as part of the outsourcing process gave staff little choice but to join Link, it was a case of you either transfer employment to Link or you don't have a job anymore. In Links defence they probably received a bunch of staff that really didn't want to work there.
LNK Price at posting:
$1.29 Sentiment: None Disclosure: Not Held
