POWERED BY MOMENTUM MEDIA
Hostplus completes Maritime Super merger
Hostplus has completed its merger with Maritime Super, bringing its total funds under management to more than $100 billion.
This follows a comprehensive due diligence process and will see 23,000 Maritime Super member accounts join Hostplus, bringing over more than $6 billion in funds under management.
The two funds had signed a memorandum of understanding (MOU) in February 2022 and a successor fund transfer (SFT) in December 2022.
In the latest financial year, Hostplus saw its MySuper Balanced option achieve an 8 per cent return and 8.9 per cent per annum over a 10-year horizon.
David Elia, Hostplus chief executive, said: “The finalisation of Hostplus’ merger with Maritime Super is an exciting milestone and represents another step on Hostplus’ growth and evolution to becoming a lifetime fund of choice for an increasing number of Australians.
“Hostplus is focused on delivering exceptional retirement outcomes for our members, which are supported by low admin fees and sustained net investment performance over the long-term. Our continued growth means we can further leverage scale benefits to keep costs low whilst also investing in products and services that support our members journey towards retirement.”
Peter Robertson, chief executive of Maritime Super, added: “We are delighted to complete the merger with Hostplus today and know that they will continue our journey to support our members realise their retirement goals with Hostplus. We’ve upheld a strong focus on service to members and access to comprehensive financial advice which will carry forward with Hostplus.”
“For over 50 years, Maritime Super has supported workers and employers in the maritime industry and we are proud of our track record of delivering financial security for our members. Hostplus’ demonstrated commitment to member best financial interests will ensure benefits to our members are continued into the future.”
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
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
