MMC, New Zealand’s leading provider of investment administration services to over 100 investment managers, product providers and investment professionals, today announce their acquisition of the entirety of the IFAA Group (the Group), a specialist superannuation fund administrator in Australia. This follows MMC’s earlier investment in the Group last year, representing a long-term strategic investment with MMC’s core business and primary market remaining centred on New Zealand.
MMC co-founder and Managing Director, Tom Reiher said that “the Group’s historical success proves there are strong opportunities in the superannuation and managed investment services sector in Australia. The arrangement we made in early 2020 was always intended to be our long-term entry point into Australia.”
The Group is well known in the Australian superannuation industry for its personal service to members, compared with its larger competitors. As a leading investment administrator in New Zealand, MMC view Australia as a natural long-term expansion market – a move that will unlock new opportunities for MMC’s fund and wealth administration clients to bring their investment solutions and services to Australia over time. In the meantime, MMC’s commitment to delivering the highest level of day-to-day investment administration services and bringing innovation to their New Zealand clients remains their focus.
MMC’s leadership team based in New Zealand is solely focused on the New Zealand market. Operating independently to MMC, the Group have made several recent changes to strengthen their executive management team in Australia. These include:
For further information, please contact:
Nicola Tait, Chief Client Officer
DDI: 09 557 1484
Behind the scenes powering their clients’ success is where MMC are at their happiest.
Since 2005, MMC have provided outsourced investment administration services to the New Zealand investment sector.
Auckland-based MMC now have over 150 staff and administers combined funds of around $90 billion for approximately 100 clients who range from investment managers, to product providers and groups of investment professionals.
About IFAA Group
The IFAA Group of companies comprises three entities:
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