MLC Implemented Consulting (MLC IC) has been appointed by nib health funds limited to advise on over $450 million of assets.
The mandate brings MLC IC’s total funds under advice to $14 billion.
MLC IC general manager Paul Ireland said nib had recognised MLC’s ability to implement investment strategies for complex liability and reserving structures.
nib group financial controller Glenn Treadwell said the health insurer was happy with MLC IC’s professionalism and the quality of its advice.
“They have demonstrated a sound understanding of our business goals, which provides the board with peace of mind that our investments are being managed in accordance with our capital management plan,” said Treadwell.
MLC IC and Plum have also been jointly appointed by another large superannuation fund to provide advice on both defined benefit and accumulation assets amounting to over $800 million.
MLC IC declined to name the superannuation fund.
