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.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
