NGS Super has reappointed Frontier Advisors as its asset consultant for a second three-year term, following a market review and tender process with assistance from Deloitte.
NGS chief executive, Laura Wright, said that Frontier’s ability to support the fund’s future plans was key to its reappointment, saying that its collaborative and aligned approach to consulting and deep technology offering suited NGS’s growth strategy.
“Our relative investment performance has continued to improve over the last three years, with the last twelve months top quartile performance demonstrating that the contributions by Frontier and the working relationship with the internal investment team and investment committee are functioning well,” Wright said.
“We look forward to this continuing into the future. Although there are many drivers of these results, the contributions from Frontier over this time has been an important factor.”
Deloitte Access Economics has raised concerns about the government’s recent changes to the Future Fund’s investment mandate, questioning the necessity and implications of the reforms.
An industry body has praised the strong backing from institutional investors for Australia’s transition to renewable energy.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
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.