Russell Master Trust announces $500 million in new funds since Choice
Top industry ratings, sophisticated investment options and competitive fees drive outsourcing decisions for corporate super funds
SYDNEY, 15 November, 2005 – Global investment and superannuation specialist, Russell Investment Group, today announced a raft of new business wins for its flagship Russell SuperSolution Master Trust, reinforcing the highly competitive positioning of Australia's large master trusts in the new choice of fund environment.
Seven large Australian corporate super funds totaling $500 million in assets and representing over 7,000 members have made the decision to outsource the management of their funds to the Russell SuperSolution Master Trust since the start of the government's new choice of fund regime in July 2005. Many of the companies are household names including 3M, Johnson & Johnson, and Swire Group. The companies join existing corporates such as GE, George Weston Foods and News Limited to push the total funds under management in Russell's SuperSolution Master Trust towards $2.5 billion.
Mr Stephen Roberts, head of institutional business for Russell in Australia , said the advent of choice has 'upped the ante' in terms of what employers and consumers were demanding from their super provider. "Employers want a quality, well-priced package of investment options and member services that will cater to all their members and minimise confusion around choice," he said. "Strong reliable returns and simple but effective member communications is then vital to keep members engaged with their fund – and Russell is working hard on getting that mix right," he said.
Last month Russell added its new Russell LifePoints ® Target Date Portfolios, Australia 's first 'target date' funds, to its SuperSolution investment options lineup – a move which has received strong response from employers. Popular in the US pension market, target date portfolios require members to choose a date in the future when they plan to retire. The portfolio's asset allocation then automatically adjusts to become more conservative as members approach that retirement date.
"The interest in Russell LifePoints ® has been quite exciting amongst employers, who are looking for sophisticated solutions, but packaged in a simple and accessible way," Mr Roberts said. "A lot of employers see that the target date concept has the simplicity to appeal to a portion of their member base, while still harnessing a powerful underlying investment machine to deliver the right returns.
"By utilising our scale and global expertise, Russell has taken the high-end services previously available only to the largest funds, and made it work cost-effectively for small to medium-sized employers. This means employees can enjoy a very high quality super package without having to pay retail fees," he said.
As the world's largest multi-manager, Russell provides multi-manager solutions for a broad range of institutional investors and corporate superannuation funds, as well as a growing number of retail investors through alliances with leading financial planning groups. Russell's multi-manager funds are underpinned by the group's leading global manager research team, which conducts more than 5,000 manager interviews each year – giving Russell investors the pick of the best investment talent from around the world.
The Russell SuperSolution Master Trust was this year awarded the top '5 Apples' rating in the medium and large superannuation funds category by independent consultant Chant West Financial Services. Russell was also recently named the 'preferred' multi-manager provider in Australia by independent research house Lonsec.
Issued by Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (“RIM"). This document provides general information only. It has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. RIM is the issuer of units in the Russell Pooled Superannuation Trust ("Russell PST"). An invitation to apply for an investment in the Russell LifePoints 'Target Date’ Portfolios of the Russell PST are expected to be made by RIM in a Product Disclosure Statement (“PDS") dated 1 October 2005 . Any potential investor should consider the PDS in deciding whether to acquire, or to continue to hold, an investment in the Russell LifePoints 'Target Date’ Portfolios. The PDS is currently available from Russell at Level 17 19-29 Martin Place , Sydney or by phoning (02) 9229 5111. RIM or its associates, officers or employees may have interests in the financial products referred to in this information by acting in various roles including, broker or adviser, and may receive fees, brokerage or commissions for acting in these capacities. In addition, RIM or its associates, officers or employees may buy or sell the financial products as principal or agent. You may contact RIM on (02) 9229 5111.
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