Aon appoints new master trust manager
Aon Consulting Australia has appointed global and superannuation investment specialist Russell Investments to manage Aon Master Trust’s range of multi-manager funds, it announced yesterday.
The partnership is part of Aon’s strategy to position itself for long-term growth and follows the recent appointment of Pillar as Aon’s member administrator and BNP Paribas as its custodian and unit price administrator.
“Through partnering with Russell É we have access to both scale and world-class resources,” Aon managing director Stewart Fotheringham said.
Russell has over $24 million in Australian-sourced assets and $230 billion under management globally, he said.
“This partnership enables us to focus on being the fiduciary, the product innovator, distributor and client relationship manager,” he added.
The Aon Master Trust currently offers more than 40 investment options across three tiers.
Investment options across tiers one and two will essentially remain the same but investment management will be transferred to Russell.
However, tier three specialist manager options will be closed to new contributors from July 1, this year.
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