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ARF/STA: $18 billion behemoth
The entity which emerges from the merger of the Australian Retirement Fund (ARF) and the Superannuation Trust of Australia (STA) on July 1 will boast around $18 billion in funds under management.
That is the bottom line of data released by ARF this week with chief executive, Ian Silk saying that in just 12 months the fund’s assets under management had soared from $7.5 billion to $10 billion due largely to a combination of strong investment performance, membership growth and corporate fund acquisition.
Silk said that there would be more substantial growth ahead when Anglican Superannuation Australia merged its $150 million in assets under management into ARF on June 30, the same day Finsuper transferred into the STA.
He said that in the last quarter ARF’s employer numbers had grown by more than 8 per cent.
AUTHOR
Mike Taylor
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