Three leading employers award corporate superannuation mandates to Russell Investments Master Trust

Jodie Hampshire

The Russell Investments Master Trust has grown with the addition of three corporate superannuation mandates.

Clayton Utz, Byrnecut Group Superannuation Plan – through Alliance partner Resource Super – and a leading reinsurer have awarded mandates to the Russell Investments Master Trust in recent months, as employers seek more personalised superannuation solutions for their staff.

The new mandates add around $285 million in assets to the Russell Investments Master Trust and provide an additional 2500 Australians with access to Russell Investments’ personalised superannuation program, GoalTracker™.

Introduced in 2020, GoalTracker™ is a unique approach to the Australian retirement saving system that helps build the superannuation and investment experience around individuals’ retirement funding goals and personal circumstances.

This mass personalised approach to super is a first-of-its-kind in the Australian market. It provides fund members with individually appropriate investment strategies and can help determine suitable contribution levels for each member based on how they are tracking towards their retirement income goal – their personal funded status.

Russell Investments Managing Director of Australia and New Zealand Jodie Hampshire said the new mandates indicated that leading employers are increasingly seeking solutions which increase member engagement and personalise the typically commoditised superannuation experience.

“Leading employers are increasingly endorsing personalised superannuation and these mandates underline the importance of transitioning towards a superannuation system that puts real member goals and personal funded status at the centre of the super experience,” Ms Hampshire said.

“Retirement adequacy is personal, and over the past 12 months the retirement savings of Australians have been subject to a volatile investment and social landscape. As that landscape continues to prove difficult to manage for on a collective basis, personalised super solutions are becoming increasingly appropriate.”

GoalTracker™ technology factors in up to 10 individual data points, including a person’s age, super balance, salary, plus capital market forecasts. This data helps determine how each member is tracking towards their personal funded status. It can then customise the optimal asset allocation and glide path for each member, to ensure they have the best chance of reaching their goal.

“GoalTracker™ represents the next evolution of superannuation in Australia and we expect most super funds to adopt similar mass personalised solutions by 2030,” Ms Hampshire added.