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AvSuper appoints Russell for administration
In the first deal for its new in-house administration model, Russell Investments will provide fund administration services to AvSuper’s 6,000 members from early next year.
Russell’s consultative approach in working with the fund to customise a tailored, scaleable solution was part of the appeal, according to AvSuper chief executive Michelle Griffiths.
“We were impressed with the extensive level of detail Russell presented about their administration model, which clearly demonstrated their ability to support us in providing the highest level of personalised service to our members,” she said.
Russell’s new administration service will officially begin from 1 January after Russell first flagged the changes in May this year, and in October recruited 75 staff from outsourced administration provider IBM SuperLife and appointed an external back-office provider.
Russell also announced it is enhancing its existing global offshore capability to allow non member-facing activities to be carried out in the most accurate and cost-efficient way.
“This is the first step in what we believe will be an attractive proposition for funds looking for an administration arrangement that’s tailored to their specific needs,” said Russell's director of administration and consulting services, Siva Sivakumaran.
AUTHOR
Mike Taylor
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