MLC-backed Plum Financial Services has picked up a significant corporate superannuation mandate: the BP Superannuation Fund.
Plum has been appointed to provide superannuation services to the $470 million, 2,500-member corporate fund.
According to Plum, the BP mandate, together with other wins this year, has added $4.7 billion in funds under administration and 45,000 new members.
Other funds to come under the Plum umbrella include Royal Automobile Club of Victoria, Merck Sharp & Dohme and NAB Staff Superannuation Fund.
JANA Investment Advisers will provide the investment management services element of the BP mandate.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
Add new comment