Mercer to manage ING’s Living Super investments

Mercer Investments is to provide investment management to members of ING super fund Living Super, which is set to transfer via successor fund transfer (SFT) into OneSuper.

Living Super was established in 2012 and holds around $3 billion in assets under management but is set to transfer via a successor fund transfer (SFT) into OneSuper later this year. 

ING said: “We recognise the importance of continuing to deliver strong outcomes for our superannuation members. That’s why we’re working with the trustee, Diversa Trustees Limited, to transfer Living Super (issued out of the ING Superannuation Fund) and all its members to a new superannuation fund, OneSuper via a successor fund transfer.”

ING confirmed Living Super “will continue to exist, however it will operate a separate sub-plan within OneSuper”. 

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Under the new terms, members of Living Super would receive active management from Mercer Investment which it hopes will lead to improved fund performance for members.

Elaborating on Mercer’s investment process, it said: “We have appointed a new global investment manager (Mercer Investment (Australia) Limited) (Mercer) who has access to global scale and will be introducing elements of active management which are designed with the aim of delivering improved investment performance outcomes on your super. 

"Mercer takes a diversified approach to investing, using both low-cost passive index managers, and active investment managers that look to exploit mispricing of particular asses. Mercer uses multiple active approaches including:

• Manager selection: Mercer undertakes extensive global research and due diligence to identify and select highly rated managers that have a strong potential to outperform benchmarks over time.
• Dynamic asset allocation: Mercer looks to identify deviations from long-term expectations to deliver improved returns and sound risk management, for example reducing risk by tilting away from assets that appear unfavourable in the short term.”

Other benefits of the move include reduced administration costs and from a new member experience, ING said. This includes a new website and mobile app proposed to launch from mid-2024 that will allow member to browse and trade shares and ETFs in real time, real-time chat support and the ability to view performance history and change investment options.

Living Super accounts will be closed on 30 November and transferred to OneSuper on 1 December 2023.

Insurance coverage and insurance premiums will be unchanged, the firm said, and will be transferred to OneSuper on the same policy terms provided by insurer MetLife.