POWERED BY MOMENTUM MEDIA
Aware Super completes VISSF merger
The merger of Aware Super and the Victorian Independent Schools Superannuation Fund (VISSF) has been completed, following the completion of the successor fund transfer.
This would mean that, from today, VISSF members would now become part of Aware Super, which would now be supporting more than 200,000 members.
Aware Super chief executive, Deanne Stewart, said that following the merger’s completion, the Fund priority would be now on ensuring VISSF members were supported in their transition into Aware Super.
“Through this merger we look forward to building on our leading offering for members in the primary and secondary education sector, and providing them with the right help, education, guidance and support to enable them to achieve the kind of retirement they deserve,” she said.
SuperReview first reported in July that both super funds had agreed to proceed with their proposed merger as they shared similar values, cultural alignment and a member base.
This was the third merger Aware Super had completed in the past 18 months, including mergers with VicSuper and WA Super in 2020.
“Over the past three years there has been unprecedented consolidation in Australia’s superannuation industry, and there is more to come,” Stewart stressed.
“Aware Super has been at the forefront of this activity, with a dedicated team of experienced merger professionals helping to smooth the pathway to successful mergers.”
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
96.54 3 y p.a(%)
2
DomaCom DFS Mortgage
85.26 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
