POWERED BY MOMENTUM MEDIA
Russell Investments adds 3 corporate mandates
Russell Investments Master Trust has added three new corporate superannuation mandates – Clayton Utz, Byrnecut Group Superannuation Plan (through Alliance partner Resource Super) and an unnamed reinsurer.
The new mandates would add around $285 million in assets to the Russell Investments Master Trust and provide access to 2,500 people to the firm’s personalised super program GoalTracker.
Jodie Hampshire, Russell Investments managing director of Australia and New Zealand, said the new mandates indicated leading employers were increasingly seeking solutions which increase member engagement and personalise the superannuation experience.
“Leading employers are increasingly endorsing personalised superannuation and these mandates underline the importance of transitioning towards a superannuation system that puts real member goals and personal funded status at the centre of the super experience,” Hampshire said.
“Retirement adequacy is personal, and over the past 12 months the retirement savings of Australians have been subject to a volatile investment and social landscape.
“As that landscape continues to prove difficult to manage for on a collective basis, personalised super solutions are becoming increasingly appropriate.”
GoalTracker factored in up to 10 individual data points, including a person’s age, super balance, salary, plus capital market forecasts to help determine how each member was tracking towards their personal funded status.
“GoalTracker represents the next evolution of superannuation in Australia and we expect most super funds to adopt similar mass personalised solutions by 2030,” Hampshire said.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
