Russell obtains APRA RSE Licence
SYDNEY, 12 October, 2005 – Global investment and superannuation leader Russell Investment
Group today announced that the Trustee for Russell’s SuperSolution client funds – TRM – has obtained
its Registrable Superannuation Entity (RSE) Licence from the Australian Prudential Regulation Authority
(APRA).
As part of Russell’s Total Retirement Outsourcing business, TRM provides trustee services for a
range of Russell SuperSolution client funds, as well as the $2 billion Russell SuperSolution Mastertrust.
Mr Warren Burford, group legal counsel at Russell, said the firm was pleased its trustee company
had cleared the necessary regulatory hurdles and achieved its licence sooner rather than later in the
available transition period.
“This reflects Russell’s continued and demonstrated commitment to provide the compliance skills
and resources necessary to assure high quality and integrated services to Russell SuperSolution members
and employer-sponsors,” Mr Burford said.
“Under the Russell model we bring together a ‘one stop shop’ of integrated trusteeship,
investment and member administration services designed to provide a superannuation outsourcing
package that will help employers comply with a more onerous regulatory regime under choice of fund.
“For members Russell SuperSolution offers sophisticated investment options, competitive
insurance, and comprehensive member services,” he added.
The RSE Licence is mandatory for any regulated superannuation fund trustee under the new
regulatory regime. APRA has warned that all funds need to get their applications in by the end of this
year, to guarantee enough time for their approval by the 30 June 2006 deadline.
Prepared by Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (“RIM”). In making a decision about investment in
a Russell Fund you should consider the latest Product Disclosure Statement for the Fund. Copies can be obtained from Russell. Frank Russell
Company, a Washington, USA Corporation, operates through subsidiaries worldwide. You may contact RIM on 1800 458 272.
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