POWERED BY MOMENTUM MEDIA
Equip merger sees members get big savings
Equip has announced that the fund’s recent merger with the former Rio Tinto Staff Superannuation Fund will see its 70,000+ members receive total fee and insurance premium reductions of more than $12 million in fiscal 2019, showing that mergers do indeed often result in member benefits.
Equip’s chief executive, Nicholas Vamvakas, pointed to the merger as a key reason for the reduction.
“The homework we and the trustees of the Rio Tinto fund did ahead of the merger identified that we would achieve substantial savings that would benefit the members of both funds,” he said.
“I am pleased to say that the reductions occurring from 1 July are absolutely aligned with the analysis. Fee reductions passed onto members next year will amount to around $9 million, while insurance premium reductions will be around $3 million.”
Vamvakas said that more mergers could be on the cards for the fund.
“We still believe in the benefits of scale and we are continuing to explore opportunities for more mergers and additional corporate superannuation plans. We expect these will be by far the biggest contributors to our growth in the foreseeable future.”
He also said the consolidation of member accounts into a single database by Mercer enabled a flow-on of member benefits, such as giving access to Equip’s NextGen website and app to former Rio Tinto Fund members.
Recommended for you
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
