The right to administer six million superannuation accounts is up for grabs in what is arguably Australia’s largest ever tender for a financial services systems replacement.
Member administrator Superpartners is working with global IT consultancy, CapGemini, to identify an appropriate replacement for its internal legacy platform, R2. A steering committee including delegates from Superpartners’ major industry fund clients and owners has been assembled to drive the process, which is understood to have been underway for months. It is understood that clients’ most pressing reason to want R2 replaced is the system’s inability to facilitate daily unit pricing. External systems understood to be under consideration by Superpartners include Synchronised Software’s CapitalX, Financial Synergy’s Acurity, Australian Administration Services’ AASpire (formerly Atune), Bluedoor’s Wealth.Net and Bravura’s Sonata. The chief executive of Superpartners for the past six months, former AMP NZ managing director Greg Camm, was unavailable for comment.
The total portfolio approach has already been implemented by some of the biggest asset owners around the world. But with the advent of a more volatile market and macro backdrop more funds might start putting it to work.
Lachlan MaddockApril 18, 2025
