MMC: full acquisition of IFAA Group
MMC, New Zealand’s leading provider of investment administration services has announced today its 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, with MMC’s core business and primary market remaining centred in New Zealand.
MMC co-founder and managing director, Tom Reiher said: “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. MMC view Australia as a natural long-term expansion market – a move that will unlock new opportunities for its clients over time.
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