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QSuper and Sunsuper enter merger due diligence
QSuper and Sunsuper have announced the signing of a Memorandum of Understanding to enter into a period of exclusive due diligence ahead of a merger.
The two funds announced the agreement today stating that it had been reached following a period of high level discussions and an assessment of both businesses which found “there are sufficient potential benefits to members to proceed with due diligence”.
The statement said any potential combination would be subject to the trustees of each fund determining the agreed structure is in the best interests of members and the appropriate regulatory approvals and passage of enabling legislation.
The two funds signalled their merger intentions late last year.
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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.
The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
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