POWERED BY MOMENTUM MEDIA
(March-2002) William M Mercer gets off to a flier
William M Mercer has started 2002 with several new administration and master trust clients.
Its most recent appointment was as CUE Super’s administrator. This 5,500 member multi-employer plan for credit union employees, which has assets of $140 million, previously did its administration in-house. In January, however, its trustees decided to outsource this function to Mercer in order to gain cost efficiencies and expertise.
REI Super, an industry fund for the property services sector, re-appointed Mercer as its administrator in December. This fund has 22,000 members and assets of $250 million.
Mercer’s master trust, the Mercer Retirement Trust, also starts the year off well, having won over funds from organisations such as Pacific Brands, Angus & Coote, PB Foods and RAC (WA).
Mercer CEO Simon O’Regan says these wins have bolstered the master trust’s assets by more than $430 million to its current total of $3.7 billion, including monies committed, but not yet invested.
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