A working partnership between the AFL Players’ Association (AFLPA) and Equity Trustees established back in 2011 has expanded with Australia’s leading trustee being awarded responsibility to manage and grow the $150 million AFLPA Player Retirement Account (PRA).
Originally appointed to manage the administration of the member registry when the fund was initially $12 million, Equity Trustees was appointed following a robust and competitive tendering process for the investment manager of the PRA. The appointment is from 1 April 2022 and also includes ongoing management of member services assisting players with their transition to retirement.
The PRA was established in 1999 to assist player members in their financial transition once they retire from playing football by providing a lump sum and periodic payments.
“We’re proud the AFLPA has recognised the quality performance results of our investment management team and are confident that members will benefit from our comprehensive service,” said Darren Thompson, Head of Asset Management at Equity Trustees.
“This appointment means Equity Trustees now manages more than $4 billion of assets for a wide range of clients. With responsible investing part of our approach, and a community-driven focus due to our work with charities and the for-purpose sector, and with Indigenous communities, we are well aligned with the AFLPA in terms of our values and our capability,” he added.
AFLPA CEO, Paul Marsh, said it was vital the players money was in safe hands.
“A playing career in the AFL is very limited, so it’s important that there are programs in place to reward players for their contribution and commitment to the game throughout their retirement,” Marsh said.
“The PRA is an important aspect of this, and we value the role that Equity Trustees has played in administering and managing the fund. We are pleased to be working with the broader Equity Trustees team and congratulate them on the appointment following a highly competitive process.”
More about the Equity Trustees Asset Management team can be found here.
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Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services, superannuation trusteeship and Responsible Entity (RE) services for external Fund Managers. Equity Trustees is the brand name of EQT Holdings Limited (ABN 22 607 797 615) and its subsidiary companies, publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Bendigo, Sydney, Brisbane, Perth, Dublin and London.