In a statement issued by the Queensland-based fund, Sunsuper said that as part of the partnership it will direct mandates for passive investment management to Vanguard, subject to market conditions.
Sunsuper chief executive Scott Hartley said the fund would also use Vanguard’s experience in servicing large US-based corporate clients in its 401K defined contribution plan business to benefit Sunsuper's members.
“This alliance represents a fantastic opportunity for Sunsuper,” Mr Hartley said. “Our aim is to extract as much value from the relationship as we can in order to pass the benefits of Vanguard’s world-class expertise on to our customers in the form of new and improved products and services."
Vanguard Australia managing director John James said the firm will work closely with Sunsuper in providing the fund access to its regional and global investment capabilities.
“Vanguard is recognised as an industry leader in terms of member engagement, record-keeping and support services to corporate sponsors of defined contribution plans,” Mr James said.
“This is an exciting alliance that brings Vanguard’s global scale to Sunsuper and we look forward to working with the Sunsuper team to deliver world-class benefits to their members."
