POWERED BY MOMENTUM MEDIA
IOOF’s acquisition of OnePath delayed
IOOF and ANZ have agreed to changes to the contractual arrangements around IOOF’s acquisition of ANZ’s pensions and investments business, OnePath.
IOOF announced to the Australian Securities Exchange (ASX) today that the changes related to the acquisition of ANZ’s OnePath Pensions and Investments business.
It said that following recent actions by the Australian Prudential Regulation Authority (APRA) changes to the transaction agreements had been agreed to accommodate the likely delay in completion of the pensions and investments business to later this year.
It said the changes would enable the completion of a successor fund transfer, provide that completion of the acquisition would occur subject to the consent of the OnePath and Custodians and provide that the coupon rate of 14.4 per cent a year on the debt subscribed by IOOF from ANZ would be paid until the successor fund transfer was completed.
Commenting on the changes, IOOF acting chief executive, Renato Mota said the firm was continuing to work towards the effective completion of the initiatives outlined to the markets on 21 December in relation to the APRA licence conditions.
“We remain confident that completion of the pensions and investments acquisition should be able to occur shortly after the successor fund transfer completion,” he said.
Recommended for you
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 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(%)
