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Mercer wins administration mandate
Mercer has secured a significant new mandate, announcing this week that it has signed a seven-year administration services agreement with corporate fund Mercy Super.
Mercy Super has 12,000 members, assets of $700 million and covers Brisbane’s Mater Hospital and related businesses associated with Mercy Partners.
Mercer said the fund would be its largest Queensland client, with the fund transitioning to Mercer by 1 April.
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Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
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