Lend Lease Super Fund moves to the Plum master trust
8 June 2011
Leading property group Lend Lease Corporation Limited has awarded the management of its $300 million superannuation fund to Plum Financial Services.
The Lend Lease Superannuation Fund, which has 2,500 members around Australia, will be transferred from its current stand-alone arrangements into Plum’s master trust. (The stand-alone fund is Lend Lease’s corporate fund sponsored by Lend Lease.)
The Fund’s transition into the Plum Superannuation Fund is currently taking place and will be completed by 30 June.
“Lend Lease was Plum’s first client, joining us in 1999. It is particularly gratifying to have them move to the master trust after they conducted a thorough review of the corporate superannuation providers in the market,” Plum’s Managing Director Scott Hartley said.
Plum’s transition of the Lend Lease Fund will be the seventh transition Plum has managed during the past 18 months. During that time superannuation funds worth a collective $4.4 billion in funds under management have successfully transitioned to Plum.
“Many employers have seen the benefit of our strong transition experience,” Scott Hartley said.
“In fact, most of our 80 clients and 189,000 members, have been won and transitioned across to Plum from other service providers. This has enabled us to develop a consistent, methodical approach to transitions which minimises risk to clients and members and ensures a seamless result.”
About Plum
Plum Financial Services Limited (Plum) provides integrated and innovative superannuation solutions to medium and large Australian organisations. It is a subsidiary of MLC Limited, one of the National Australia Group of companies, and has a strategic alliance with the US-based Vanguard Group Inc., the world's second largest mutual fund manager. Plum manages superannuation for 80 of Australia’s largest corporations with more than 189,000 members and $14 billion of assets under administration.
For further information contact:
Penny Repse, Public Relations and Marketing Consultant
Tel: 03 9222 4597 Mob: 0439 995 850
penny.c.repse@plum.com.au or
Georgina Slade, Public Relations and Marketing Consultant
Tel: 03 9222 4640 Mob: 0438 565 774
georgina.slade@plum.com.au
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