Two corporate super funds – the $1 billion IBM Australia Super Fund (IBM Super) and the $700 million Holden Employees Superannuation Fund (HESF) – are tendering implemented consulting contracts currently held by the same incumbent provider.

Both funds are long-term clients of Russell Investment Group’s implemented consulting service and are in the early stages of tenders, fielding offers from other implemented consultants.

Warren Chant, principal and co-founder of superannuation research and consultancy firm Chant West, is running the tenders on behalf of both funds.

It is understood that the HESF has employed Russell as a consultant since June 2006, and IBM Super since March 2004.