POWERED BY MOMENTUM MEDIA
Anglican Super moves from AMP to Mercer
AMP Limited has lost a key corporate superannuation mandate, with the Anglican National Super Plan moving to Mercer.
Anglican National Super announced today at the Synod of the Anglican Diocese of Sydney that it had appointed the Mercer Super Trust to manage its superannuation fund and related member and fund support services.
The move follows AMP’s appearance before the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The superannuation fund said the appointment follows an extensive assessment process by Anglican National Super and marked a move from its previous long-term provider.
Commenting on the move, Anglican National Super chairman, James Flavin said the appointment reflected Mercer’s expertise in the superannuation sector and ability to deliver a tailored solution to its members that would help them grow and continue to succeed well into the future.
“Our members have been called to works of service across our society and it is an honour to serve these folk as they serve others. I am excited that Anglican National Super is able to partner with Mercer to bring our members the best superannuation offering available to the faith community in Australia,” Flavin said.
Mercer Australia managing director and chief executive Ben Walsh said he was thrilled with the appointment and that the partnership would ensure better outcomes for members through Mercer’s scale and capability.
Anglican National Super will transition its $250m superannuation fund to the Mercer Super Trust next year.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
