Frank Russell wins Clemenger mandate
TheClemenger Superannuation Planhas awardedFrank Russell’s Implemented Consulting Servicea $40 million superannuation mandate, becoming the latest superannuation fund to go down the implemented consulting path.
According to Clemenger Superannuation Plan chairman Peter Doyle, driving this decision was both the desire to implement a member investment choice program in the near future and the need for more consistent performance with reduced volatility.
“The move to Russell Implemented Consulting will allow us to implement the investment policies through a well-diversified package of specialist managers carefully chosen based on Russell’s extensive research,” Doyle says.
The mandate from the Clemenger fund marks the seventh client in the second half of this year to award a significant superannuation mandate to Frank Russell’s implemented consulting service, bringing its total number of clients to 17.
Other clients of the service include theHolden Employees Super Fund, theSeven Network Super Fund, theANZ Staff Super Schemeand the Victorian Independent Schools Super Fund.
Director of Frank Russell’s institutional business Stephen Roberts says Russell’s range of multi asset, multi style and multi manager funds gives clients of its implemented consulting service access to some of the world’s best managers, while minimising the risk of over-reliance on any single investment approach.
“Russell Implemented Consulting combines all the advantages of a balanced manager without compromising investment quality,” says Roberts.
He says in the case of Clemenger, it will theoretically get the benefits of being part of a $4.7 billion fund.
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