Lend Lease mandate goes to Plum

MLC-linked Plum Financial Services has picked up a key corporate superannuation outsourcing mandate from property group, Lend Lease Corporation Limited.

Plum has confirmed it has been awarded management of Lend Lease’s $300 million Lend Lease Superannuation Fund which has 2,500 members around Australia.

The Lend Lease fund has previously operated under stand-alone arrangements and will transition to Plum by 30 June.

“Lend Lease was Plum’s first client, joining us in 1999. It is particularly gratifying to have them move to the master trust after they conducted a thorough review of the corporate superannuation providers in the market,” Plum managing director, Scott Hartley said.

He said Plum’s transition of the Lend Lease Fund would be the seventh transition managed during the past 18 months, during which time superannuation funds worth a collective $4.4 billion in funds under management had been successfully transitioned.