POWERED BY MOMENTUM MEDIA
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 $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
33.20 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.82 3 y p.a(%)
Add new comment