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Bailey McCann, Opalesque New York: In a first of its kind partnership, Australian superannuation fund State Super will partner with Frontier Advisors. 15 of State Super's dedicated investment and operations specialists, led by Chief Investment Officer Charles Wu, move across to Frontier Advisors, where they will continue to support State Super members' interests and introduce a new Independent Chief Investment Officer, or 'ICIO' model, to Frontier's capabilities.
State Super will become a 23.66% shareholder of Frontier, a leading institutional investment advisory firm, alongside other industry heavyweights AustralianSuper, Hesta, Cbus and First Super.
State Super looks after the assets of what is one of Australia's largest superannuation schemes, with over 80,000 members and $60 billion in prospective member benefits, with $38 billion in assets.
State Super has worked with Frontier for 20 years and the two have been in talks about the partnership for some time. Livanas explained this solution will address the natural challenges for the State Super investment team as aging members exit and funds under management decline.
The capability the former State Super team brings into Frontier, will instantly enable the firm to expand its services as they introduce their ICIO model. The model will be offered to other clients as a new capability.
"Our unconflicted advice model is well known in the market and that won't change," said Frontier Advisors CEO Andrew Po...................... To view our full article Click here
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