The Qantas Superannuation Plan is understood to have selected the IBM/Russell partnership as its preferred outsourced provider of member administration.
The board of the $5 billion corporate fund is understood to have passed on Mercer HR in preference for the IBM/Russell partnership, in which the former organisation runs the operations and the latter the client relationships. It is not known whether a contract with IBM/Russell has been finalised, or the extent to which any new relationship will impact on Qantas Super’s internal administration team. Qantas Super chief executive, Jeremy Edmonds, was unavailable for comment as to whether a final commitment to outsourcing administration had been made.
21/11/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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