Russell Investments has picked up an implemented investment mandate from small industry fund, NESS Super.
The mandate was confirmed by both NESS Super and Russell on Wednesday with confirmation that the fund had recently transferred $700 million into Russell’s management.
Commenting on the mandate, Russell Investments managing director, Australian Institutional, Jodie Hampshire said it would entail investment consulting and implementation advice as well as the delivery of investment strategies.
NESS Super acting chief executive, Peter Murphy said the fund had turned to Russell Investments in large part due to the firm’s experience with superannuation funds, its range of investment capabilities and willingness to engage in complexity.
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.