SS&C wins REI Super admin mandate
SS&C Technologies has won another significant superannuation mandate – this time being appointed as administrator for real estate sector fund, REI Super.
SS&C confirmed the mandate yesterday, noting that it had followed a competitive tender process.
The fund’s previous administrator was Mercer.
Under the mandate, SS&C Global Investors and Distribution Solutions will provide REI with superannuation administration services and streamlined operations support to its 24,000 members across Australia.
REI Super chief executive, Jarrod Coysh attributed the selection of SS&C to its track-record in fund administration and its innovative technology.
SS&C Head of GIDS in Australia, Shaun McKenna said that as the superannuation industry continues to grow and the regulatory environment evolves, it is imperative for funds to select the right external partner to meet their operational needs.
SS&C penetration in terms of servicing the Australian superannuation market is evidenced by its declared ambition to service over 1.6 million superannuation members and wealth accounts across Australia by the end of 2025, accounting for $180 billion in funds under administration.
The company said the Australian market represents a key growth market for SS&C, which is also on track to add more local capacity, employees, and office space in the second half of the year to meet increased regional demand.
I think these numbers are too low. Especially if you live in major cities. I try to ensure none of…
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Always back self interest when a body is marketing a submission to the government
In other words the system is achieving what the government wanted to happen.
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