Plum nabs BP Super mandate
By Christine St Anne
Tuesday 13 July 2010
BP Australia has outsourced its $470 million corporate superannuation business to Plum Financial Services.
"The transition of the large fund reinforces Plum's expertise in providing a comprehensive range of member benefits in conjunction with the investment skill offered by JANA Investment Advisers," Plum managing director Scott Hartley said.
The acquisition of the BP fund builds on a strong year of growth for Plum, Hartley said.
Over the past year, Plum has secured corporate superannuation mandates from the Royal Automobile Club of Victoria, Merck Sharp and Dohme, and the National Australia Bank Staff Superannuation Fund.
Plum Financial Services manages $14 billion in funds under administration and has more than 180,000 members.
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