Trust Company has picked up a key superannuation mandate, with Financial Synergy subsidiary Top Quartile Management awarding it a $200 million mandate to act as trustee for a number of superannuation funds.
Commenting on the mandate, Trust’s executive general manager of institutional services, Vicki Allen, said it represented a significant win for the company.
The list of funds to be migrated to Trust includes Austock Brokers Superannuation Fund, GrowSuper Model Super Fund, Super Synergy Fund, Synergy Secure, Top Quartile Super Trust and Wealthcare Super Service.
According to Trust, Financial Synergy will continue to administer the funds while Trust will oversee compliance, investment of fund assets, communication, accounting and administration.
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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