Equip has welcomed the new year by winning a $190 million corporate super mandate from air services provider dnata, with Equip chief executive, Nicholas Vamvakas, believing that 2019 will see much action in the corporate super space.
“The banking royal commission has increased the number of discussions in corporate superannuation and we are anticipating a significant amount of movement in the sector over the next twelve months,” he said.
“Equip will be an active competitor for business that it believes will benefit its members by keeping costs as low as possible while extending the fund’s capabilities and services to support retirement outcomes.”
The new mandate would see the benefits and members of over 1,100 employees transfer to the fund from Qantas Super, after dnata bought Qantas’ catering business earlier in 2019. Vamvakas said the company’s super plan included a mix of defined benefit and accumulation benefits, which were “ideally suited” to Equip’s expertise.