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Sunsuper appoints State Street to manage passive investments

10th November 2021

Sunsuper has today announced the appointment of State Street Global Advisers (SSGA) as its new passive investment manager, replacing Vanguard Australia.

SSGA is a leading partner to more than 2,300 institutions and intermediaries globally, managing more than $5 trillion in financial assets.

SSGA will manage Sunsuper’s passive strategies in Australian Shares, International Shares – Developed Markets, International Shares – Emerging Markets, Australian Listed Property, Global Listed Property, Australian Fixed Income and Global Fixed Income.

Sunsuper’s Head of Public Markets, Greg Barnes, said the appointment taps SSGA’s long history and experience in managing index portfolios.

“Following an extensive due diligence process supported by an independent, external consultant, Sunsuper has appointed SSGA as the most appropriate manager for our passive investment strategies for our 1.4 million members going forward,” said Mr Barnes.

“There won’t be any change to Sunsuper’s passively managed investment options, including investment options’ objectives, asset allocations and fees.

“Sunsuper has a strong history with SSGA in both listed equities and fixed income and cash. State Street have also been a long-serving transition manager and custodian for Sunsuper.

“SSGA has a comprehensive approach to ESG investing and integration supported by a well-resourced ESG and Stewardship team.

“We believe that SSGA will offer world leading capability, flexibility and alignment that should enhance overall investment outcomes for our members in the future.”

Sunsuper offers a broad range of investment options, super and retirement products, and member and adviser services to help Australians at all stages of life to grow their super and prepare for and live well in retirement.

Sunsuper is the profit-for-members superannuation fund-of-choice for more than 1.4 million Australians with more than $90b in funds under management.