POWERED BY MOMENTUM MEDIA
Mine Super and TWUSuper enter into MOU
Mine Super and TWUSUPER have entered into a preliminary non-binding memorandum of understanding (MOU).
If a merger proceeded, this would create a combined fund managing nearly $20 billion for over 150,000 members.
In a joint statement, Mine Super chair, Christina Langby, and TWUSUPER chair, Nick Sherry, stated the two funds shared a strong heritage of member-first values as historically important profit to member industry funds.
“Mine Super and TWUSUPER share the vision of creating a sustainable fund which protects and promotes the interests of workers in the mining and transport industries.
“In accordance with the MOU, both Mine Super and TWUSUPER are currently undertaking extensive due diligence to determine the best outcome for all members and mining and transport operators arising from a prospective merger. It is anticipated that this process may take several months.
“During this period both funds remain committed to delivering the best outcomes for their members and will keep members informed of important milestones.”
The funds said there would be no change to any funds, investments or insurance as a result of entering into the MOU.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
A professional says all roads will lead back to superannuation in the next election.
Iress has said that incident involving the unauthorised access reported this week extends beyond what was initially reported.
Treasurer Jim Chalmers delivered the Albanese government’s third federal budget on Tuesday evening (14 May), touting a balanced approach in an environment of cross-currents.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment