Mercer will provide overarching investment advice to Qantas Super as it continues to focus on its investment mission of maximising long-term risk-adjusted returns to members, net of taxes and investment expenses.
Qantas Super chief executive Jane Perry said, under the agreement, Mercer will deliver a fully integrated, non-conflicted advice model with separate consultants for the investment committee and the investments team.
Qantas chief investment officer Andrew Spence said Qantas Super was “delighted to appoint Mercer for an initial five-year term following a select and confidential market review to identify the ‘best fit’ principal investment adviser for our revised requirements”.
Mr Spence said Towers Watson has been an “excellent and valued investment partner over the last 10 years, and has played a key role in helping Qantas Super build a high quality, contemporary investment platform that is delivering strong member outcomes”.
He said Arcadia Managed Investments will continue to provide Qantas Super with specialist unlisted property advice.
Mercer head of investment consulting Graeme Mather said Qantas Super was delighted to be partnering with such a highly regarded superannuation fund and believes both organisations have “similar values and beliefs that focus on improving member outcomes”.
