Hostplus finalises merger with Intrust Super
Hostplus has completed its merger with Intrust Super, creating a superannuation fund with combined $69 billion in funds under management (FUM).
Hostplus had $66 billion in FUM with 1.3 million members while Intrust Super, which serves the hospitality and retail sector, had 90,000 members and $3 billion in FUM.
The merger was first announced in June 2021, and Hostplus was also looking to merge with Statewide Super in the second quarter of 2022.
David Elia, chief executive of Hostplus, said: “We are absolutely delighted with the successful merger, as we continue to create a truly national fund of greater size and scale, supporting the best financial interests of our broadening membership.
“We are immensely proud of the benefits the merger will provide to our newly combined membership, and look forward to welcoming Intrust Super’s members, employers and staff to our growing fund.”
Intrust Super chief executive, Brendan O’Farrell, said: “The shared heritage and traits of Intrust Super and Hostplus formed a solid foundation for what we know will be a great union of our funds.
“The merger puts the best financial interests of both funds’ members first and supports our continued growth, competitiveness, sustainability, and success.
“These factors will help to further secure strong retirement outcomes for Intrust Super’s members now, and 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
The central bank has announced the official cash rate decision for its November monetary policy meeting.
Australia’s maturing superannuation system delivers higher balances, fewer duplicate accounts and growing female asset share, but gaps and adequacy challenges remain.
Global volatility and offshore exposure have driven super funds to build US-dollar liquidity buffers, a new BNY paper has found.
Less than two in five Australians are confident they will have sufficient assets to retire and almost three-quarters admit they need to pay greater attention to their balance, according to ART research.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
