The Motor Accident Commission (MAC) in South Australia has hired Mercer to provide investment consulting for its $2 billion portfolio.
MAC previously used Atchison Consultants on a case-by-case basis, MAC chief investment officer Freddy Bartlett said.
"We decided to appoint a permanent consultant to provide us with investment advice," Bartlett said.
"We believe that Mercer is the best fit for MAC because of their experience and track record with insurers, particularly with compulsory third-party insurers in other states."
Mercer will conduct an initial review of MAC's portfolio as well as use its dynamic asset allocation service to provide the firm with medium-term strategic asset allocation adjustments.
Mercer provides investment advice to Medibank Private's $1 billion portfolio. Its superannuation administration business has picked up mandates with Insurance Australia Group, the NRMA Superannuation Plan and financial services firm Guild Group.
