POWERED BY MOMENTUM MEDIA
QSuper and SunSuper merger goes ahead
The merger of QSuper and Sunsuper is to proceed resulting in Australia’s largest superannuation fund.
The boards of QSuper and Sunsuper announced today they had signed a heads of agreement which will see the creation of a $200 billion merged entity servicing two million members.
In a joint statement, QSuper chair, Don Luke and Sunsuper chair, Andrew Fraser, said the merged fund will be headquartered in Brisbane and the merger will proceed in September this year.
The chair of the merged fund will be Don Luke and the board will be formed from the existing boards.
The chief executive will be Bernard Reilly who is currently chief executive of Sunsuper.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
96.54 3 y p.a(%)
2
DomaCom DFS Mortgage
85.26 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(%)
