Just weeks after being acquired by Telstra, Australian Administration Services have won a key superannuation administration mandate by being appointed by Christian Super under a five-year contract.
The appointment sees the 13,000 member $240 million Christian Super switching from Mercer after a nine-year relationship.
Christian Super chief executive Paul Beckmann stresses, however, that the fund had been served well by Mercer during the relationship.
He explains that the move was based on the fund’s changing needs.
“Recognising the fund’s rapidly changing client base and servicing needs, we sought a partnership which would provide maximum alignment with our future direction,” Beckmann says.
Christian Super has grown relatively rapidly over the past 18 months, merging early last year with the Australian Baptist Retirement Fund (ABRF) and the Church of Christ and a further merger looming later this year with the Anglican SuperFund.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
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