Barely 12 months after arriving in Australia, British-based Hewitt Investment Consulting has won a major superannuation mandate.
Hewitt’s principal consultant in Australia, Richard Block confirmed this week that the firm had been retained by the big 5,000 member BHP Billiton Superannuation Fund to provide investment consulting services in Australia.
Block said that while the BHP Billiton Fund would be maintaining an implemented consulting service provided by Russell, Hewitt would be providing independent strategic advice.
He said that Hewitt had won the mandate as part of a tendering process and that the firm had been appointed to provide services to BHP Billiton in a number of other countries.
As market volatility persists, some super funds are pivoting defensively, while others are strategically positioning to capitalise on emerging opportunities.
New data has shown a progressive deterioration in risk appetite among instos even prior to Donald Trump’s latest round of tariffs.
UniSuper has reached “peak investment” in US assets and is now preparing to reassess its exposures amid ongoing sharemarket volatility.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.