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Russell Investments has consolidated its relationship with OneSteel via a corporate superannuation outsourcing mandate.
Russell announced on Monday that the OneSteel fund would tuck into the Russell Super Solution Master Trust.
The mandate represents the next step in an ongoing relationship that had seen Russell providing trusteeship, administration and investment management services.
Russell had been working with OneSteel since 2001 and described the mandate as representing one of the largest master truss mandates in Australia.
The OneSteel fund has around 5,000 members and $1.1 billion in funds under management.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.