ESSSuper announces new investment advisor for accumulation assets

We would like to announce that Towers Watson will be our new investment advisor for accumulation assets.

Following a tender process, this appointment replaces the Victorian Funds Management Corporation (VFMC) whose appointment period concludes at the end of June 2010.

Towers Watson will provide investment advisory services only, which does not cover the implementation of the portfolio.  The implementation of the accumulation assets will now be managed directly in-house.

“Our request for tender for the investment advisory services for our accumulation assets, was part of our standard three year review process”, said ESSSuper CEO, Michael Dundon.

Our defined benefit funds make up the vast majority of our assets and will continue to be managed by VFMC.

ESSSuper is one of Australia’s largest super funds with over $15 billion in funds and nearly 150,000 members.

25 June 2010

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