Mark Sladden
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AustralianSuper has reinforced its position in the Australian market, with its corporate superannuation division picking up the mandate for the former Elders Limited fund MasterSuper.
The mandate was confirmed this week by the executive officer of MasterSuper, Mark Sladden, who said the decision had followed an extensive tendering process.
He said the decision meant the fund would be able to offer its members the benefits that a fund the size of AustralianSuper could bring.
MasterSuper boasts around 12,500 members and $650 million in funds under administration. The mandate will bring AustralianSuper’s corporate business to 45,000 members and $1.9 billion in funds under administration.
The $75 billion fund has gained exposure to decarbonisation solutions in its first listed equities impact investment.
The superannuation fund is expanding its investment exposure to industrial property through a $1 billion partnership with Barings, a global investment manager.
AustralianSuper has usurped the Future Fund as the biggest Australian asset owner, jumping from 43rd to 36th place globally, according to an annual study by the Thinking Ahead Institute.
IFM Investors, the global institutional asset manager owned by superannuation funds, has signed a memorandum of understanding with the UK government to invest £10 billion by 2027.
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