The Australian Eligible Rollover Fund (AERF) has cemented its relationship with MLC Implemented Consulting by hiring it as a multi-manager for $800 million of assets.
MLC Implemented Consulting managed several mandates for AERF and won a greater piece of the action when AERF went out to tender for an implemented consultant.
"This extends a longstanding relationship we have with them and also increases the size and breadth of our mandate," MLC Implemented Consulting general manager Paul Ireland said.
AERF is a super fund that accepts member benefits from other super funds for people who may be either 'lost' or no longer eligible for membership of a particular fund.
Legislation requires all super funds to nominate an eligible rollover fund for lost members.
MLC manages more than $110 billion on behalf of individual investors and corporate clients. More than 100 institutional clients invest with MLC. Other recent mandate wins for the multi-manager include HCF, NT Build and Northern Territory Government.
