OneVue has won a key mandate from Mercer, being appointed to provide direct investing capabilities to Mercer’s clients and superannuation members.
Announcing OneVue’s appointment today, Mercer said its Mercer Direct investment service allowed superannuation members to take more control over their superannuation investment strategy by allowing them to invest a portion of their funds into direct assets – including direct shares, term deposits and access to a cash hub.
It said the new arrangement with OneVue would allow Mercer to enhance its current direct investment offering through OneVue’s online platform and administration capabilities and would transition in the first quarter 2019.
Commenting on the arrangement, OneVue executive general manager, Platform Services, Lisa McCallum said it was clear superannuation members were looking for greater control over and transparency in their investments.
“This partnership affirms OneVue’s strategy over the past year and our commitment to driving up superannuation outcomes and engagement across the board,” she said.
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.