Australian Administration Services (AAS) has notched up a significant win in the administration outsourcing stakes, with Asset Super deciding this week to award the Telstra subsidiary its back-office administration contract.
The AAS win was announced by Asset Super general manager, John Paul who said it had followed a rigorous tendering process.
He said the fund had considered a wide range of factors in the tender process, including the personnel involved, the technology available to run the business, the ability of the organisations to add innovation and services into the future, and the pricing of the service.
“This was a difficult decision, but the technological innovation of AAS, and their ability to use that technology for the benefit of Asset members was the deciding factor in the end,” Paul said.
Asset Super’s administration contract was due for renewal at the end of December this year. CitiStreet has had the Asset Super administration services mandate for the past three years.
Paul stressed that there had been no particular dissatisfaction with CitiStreet, but under the outsourcing policy of Asset’s Australian Prudention Regulatory Authority licence, the fund was obliged to put the administration out to tender prior to the renewal date.
