NGS Super awards mandate to Milliman FRM

NGS Super has named Milliman Financial Risk Management (FRM) as its new implementation manager.

NGS Super senior portfolio manager for alternatives Carson Drummond said the partnership improves flexibility and efficiency in the fund's internal tactical asset allocation program, as well as duration and currency hedging.

"When markets move quickly, having a trade execution partner that is flexible on timing, instruments, and trading venues helps us deliver better outcomes for members," Drummond said.

"The capability Milliman brings aligns with NGS Super's focus on being nimble enough to navigate and capitalise on cross-asset volatility."

Milliman FRM provides investment advisory, hedging, and consulting services on about $350 billion in global assets.

In Australia, Milliman FRM provides full-service implementation manager services for superannuation funds.

Milliman Australia's practice leader Victor Huang said: "We're leveraging our existing infrastructure and robust operating model to deliver an implementation manager service that's focused on providing unbiased guidance along with efficient and around-the-clock trade execution readiness from our seasoned traders sitting across Sydney, London and Chicago."

NGS announced in January it hired Robeco to manage its Government Bond Sustainable Enhanced Indexing and Emerging Markets Enhanced Indexing strategies.

NGS Super chief investment officer Ben Squires at the time said the Robeco partnership is a crucial step in expanding the fund's indexing range.

The super fund, which had about $17.5 billion at the end of last year, appointed GROW Inc. as its administrator to replace Mercer effective 1 November 2025.

Also from that date, NGS Super's percentage-based admin fee for all members changed from 0.10% to 0.17% per annum.

The percentage-based admin fee cap increased from $500,000 to $575,000.

The MySuper option's total investment costs reduced from 0.80% to 0.72%, while the Income account's total investments costs - as modelled on the Diversified option - reduced from 0.79% to 0.76%.