Mercer sells on MoM
William M Mercer has agreed to sell SuperFlex, its ‘manager of managers’ asset management service to PSG Escher Investments, a subsidiary of South African financial firm PSG Group. PSG is establishing a UK subsidiary, Escher UK Asset Management (EUK) to run the business.
Mercer will continue to be involved in the product providing investment consultancy advice and working with EUK in the development of ‘manager of managers’ service to clients.
“We’ll be working closely with EUK to ensure that SuperFlex clients receive a quality service that continues to benefit from Mercer’s specialist research and investment advice,” says Andrew Kirton, head of UK investment consulting at Mercer in London.
Superflex will be relaunched as the Escher Asset Management Service providing a range of funds designed for occupational and personal pension arrangements. It will integrate specialist asset management and be especially attractive to schemes with up to £100m assets and employers sponsoring group personal pension arrangements.
“The UK’s ‘manager of managers’ market is now widely recognised as having significant potential, says Phillip Croeser, chief executive of PSG Escher.