The Russell Investment Group is claiming major benefits from the new choice of superannuation fund regime with seven corporate superannuation funds having opted to move under the umbrella of the Russell SuperSolution Master Trust since July 1.

Russell announced today that among the seven funds to make the move to its SuperSolution Master Trust were 3M, Johnson& Johnson and Swire Group.

Russell’s head of institutional business in Australia, Stephen Roberts said the seven funds which had opted for SuperSolution accounted for around $500 million in assets and 7,000 members.

He said that the outsourcing decisions had pushed total funds under management in Rusell’s SuperSolution Master Trust towards $2.5 billion.

Roberts said the advent of choice had upped the ante in terms of what employers and consumers were demanding from their superannuation providers.

“Employers want a quality, well-priced package of investment options and member services that will cater to all their members and minimise confusion around choice,” he said.