Mercer Super Trust has made a number of fee changes to its funds, including a 38% reduction to its headline MySuper asset-based administration fee.
Mercer said the reductions, along with being able to simplify products and processes and adding stronger sustainable investment products, were due to continued growth along with greater operational efficiencies.
Mercer Super Trust head, Mark Thompson, said: “Our greater scale and efficiencies achieved through the growth of our business has allowed us to pass on savings and benefits to our members without compromising the services we are delivering.
“While from an operational perspective it makes sense for us to simplify our product suite and create greater consistency across our products, it all boils down to our focus on improving the retirement outcomes of members.”
Mercer’s announcement said other changes included:
Effective 1 April, 2021, Mercer Super Trust changes included:
The research house has hired an experienced product specialist for its Australasian team.
An experienced communications specialist is joining the industry group in a newly created role.
The $46 billion investment corporation owned by the government of South Australia has hired an experienced investment professional to its leadership.
The $300 billion fund has appointed a new CRO to drive its governance capabilities.