AUSTRALIA - Western Australia's Government Employees Superannuation Board (GESB) has appointed Mercer Investment Consulting to manage assets worth over AUS$5.5bn.
The announcement will see Mercer provide a wide range of investment advisory services to the largest Western Australian-based super fund, said Mercer Investment Consulting Asia Pacific business leader Tony Cole (pictured).
“Our investment consulting team is looking forward to building on our existing relationship with GESB’s investment team to create a collaborative relationship.”
GESB's investment portfolio increased by 27% to $5.36bn over the last financial year, up from $4.21bn at June 2004. Funds under management have continued to grow on average by more than $20m per week and are currently valued at over $5.7 billion.
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.