Back to all announcements

Mercer goes live with Advanced Unit Pricing from Garradin

Sydney, Australia (1st May 2006): The Mercer Superannuation Trust, one of Australia’s leading retail superannuation funds, has implemented a new Advanced Unit Pricing module from Australian investment administration software specialist Garradin.

The Garradin Advanced Unit Pricing module has enhanced functionalities which will enable Mercer to calculate unit prices over 350 funds across 4 layers, with the pricing process for all funds completed in less than 60 minutes which represents a significant improvement on the existing timing. This streamlined process for pricing is important to control the risks inherent in unit pricing and to improve release times of daily unit prices.

Peter Beltrame, Regional CFO of Mercer Human Resource Consulting, Asia Pacific, said that as the Mercer Super Trust, which is now worth more than AUS$10 billion, continued to grow it was important to effectively manage the administration of the fund.

“We have a growing Asia-Pacific and Australasian business and we manage administration centrally as far as possible. To assist us we have used Garradin as our core platform for unit pricing for all super and managed investment products and unit registry for our managed investment products for the past five years.”

“The streamlined process will enable us to service our retail clients whereby industry practice demands a quick turnaround of release of unit prices.”

Stephen Bowhill, CEO of Garradin commented, “This is a significant step in Garradin’s history as we now have a proven, best-of-breed and scalable unit pricing solution. This complements the range and depth of the other modules within Garradin Portfolio for retail, wealth management and traditional investment manufacturing markets. Overall, we have a tremendous product range for managing and administering many different asset classes including global assets.

Because the Advanced Unit Pricing module can be taken either as a stand-alone module or as a part of the integrated suite of modules within Garradin Portfolio clients can implement our solution for unit pricing and then build-out either side of registry and general ledger or investment management. This offers a low-risk solution to solving client problems in a high-risk area. We also help clients address global issues such as IFRS requirements; performance-based fees; multi-class pricing and, among other things, local issues such as tax provisioning in the unit price; optimizing CGT; accurately managing all components of distributions or calculating complex corporate actions.”