The directors of the merged Australian Retirement Fund and the Superannuation Trust of Australia have gone for an easily recognised brand for the new 1.1 million member, $20 billion entity — AustralianSuper.
The directors announced in Melbourne yesterday that they had selected AustralianSuper as the new name for the fund after commissioning Richard Henderson to undertake the re-branding exercise.
Announcing the change, the chair of the new fund, Geoff Ashton, said the merger had not simply been aimed at creating the largest superannuation fund, but at utilising its size to deliver improved superannuation products and services to members.
He said that as of July 1, members would have access to an extended range of 15 member investment options, along with substantially improved insurance products, with in-house retirement income products also on the agenda.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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