POWERED BY MOMENTUM MEDIA
Russell picks up Australian Ethical Super admin contract
Australian Ethical Super has appointed Russell Investments as the administration provider for its 14,000 members.
The super fund will drop Pillar administration and transfer to Russell in March next year after a tender process in which Russell won favour.
Australian Ethical Super CEO Phillip Vernon said members would gain increased access and functionality as well as greater control over their superannuation savings.
"The fact we will be able to provide members with best practice innovative services through a more competitive cost structure is very compelling," said Vernon.
Russell's managing director, infrastructure, Siva Sivakumaran said, "Our administration business is focused on developing innovative, flexible and customisable solutions, and we've invested heavily in technology and operational efficiencies that deliver client value. This model is attracting funds of all sizes and our business continues to grow."
Prime Super transferred to Russell Investments administration platform in January this year after the company invested significant resources in bolstering its service.
Russell launched a new administration model in January last year, bringing 75 outsourced roles inhouse. In July last year, it invested in Bravura's Sonata platform to administer its retail products.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
4
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
Add new comment