IOOF, one of the largest financial services groups in Australia, announced today that IOOF Investments have appointed Mercer Australia as their asset consultant.
The appointment brings together IOOF’s high-calibre and award-winning investment management team with Mercer’s global scale and 40 years’ experience providing professional investment advisory services to institutional investors.
Dan Farmer, IOOF Chief Investment Officer, commented “The appointment allows our highly experienced portfolio managers to leverage the strength of Mercer’s deep global and local manager research, their market insights and sophisticated systems in determining long-term strategic asset allocations, and holistic approach to dynamic asset allocation to support the team in the delivery of strong performance outcomes to our clients.”
“Mercer has a solid fit to our existing investment methodologies and provides another layer of competitive advantage to our robust multi-manager investment approach.”
Luke Fitzgerald, Mercer’s Wealth Management Leader in the Pacific Market, said “We’re delighted to be working with IOOF. As an extension of the IOOF Investment team, Mercer will bring a different kind of perspective and true global capability to support IOOF in delivering on their clients’ needs.”
Prior to Mercer, IOOF’s asset consultant was Russell Investments (Russell). At the end of 2016 Russell notified IOOF that they wished to end their consulting business to focus on implemented consulting and asset management solutions. As agreed, Russell continued providing IOOF with consulting advice up until 30 June allowing a new provider to be selected and implemented to ensure continuity of cover.
