Fresh off the back of gaining a corporate superannuation mandate from the BP Superannuation Fund, MLC-backed Plum Financial Services is understood to have picked up another significant mandate.
Plum is understood to have won the BNP Paribas corporate super mandate, which was previously run by Watson Wyatt, with administration services outsourced to IBM.
Plum announced last week it had picked up the $470 million, 2,500-member BP Super Fund, which follows mandates involving the Royal Automobile Club of Victoria, Merck Sharp & Dohme and NAB Staff Superannuation Fund.
The sovereign wealth fund grew $11.5 billion in the March quarter, according to its latest portfolio update, having previously voiced caution about inflation’s downward trajectory.
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.
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