Intech’s implemented consulting contract with the $650 million REI Super has been extended for another three years.
REI Super, whose 31,000 members are drawn from the property services sector, was able to negotiate a reduced fee from Intech thanks to its growth, according to the fund’s chief executive Mal Smith. Seven years into the implemented consulting relationship, REI Super’s investment profile bears some unmistakably Intech-style traits, such as exclusive use of concentrated portfolios in its tailored member investment choices. Smith said Intech’s recent purchase by Skandia would add to its capabilities and broaden its product suite.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
