POWERED BY MOMENTUM MEDIA
UniSuper and ACS complete fund merger
More than 80,000 members from Australian Catholic Superannuation (ACS) have joined UniSuper through a completed merger.
The Successor Fund Transfer (SFT) was realised after considerable due diligence, planning and integration, UniSuper said.
“We’re really pleased to welcome members formerly from ACS to UniSuper. With all members set to benefit from increased scale, we are looking forward to this new chapter in UniSuper’s history.
"Our focus will continue to be on achieving amazing retirement outcomes for our members, new and old, and ensuring a smooth transition for those joining us from ACS,” said UniSuper chief executive, Peter Chun.
The merger brought $10 billion in funds to UniSuper, which had over $105 billion in assets. UniSuper would now have around $115 billion funds under management on behalf of 620,000 members resulting from the merger.
Chun added, “Scale offers opportunities for the fund, keeping downward pressure on fees, ensuring that UniSuper can continue to leverage our position as an active investor, and unlocking investment opportunities that simply aren’t available to smaller funds. All of these factors position UniSuper to continue serving our members’ best financial interests.”
ACS CEO Greg Cantor expressed confidence in the merger as a positive step forward for its members.
“Our mission has always been to enable the best retirement outcomes possible for our members. After considerable due diligence, I am confident this merger delivers on that goal for our members. We have been very pleased with the cultural alignment of our fund with that of UniSuper and their commitment to work closely with our members and employers in Catholic agencies and Catholic schools,” he stated.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
Mine Super and TWUSUPER have announced the successful completion of the final stage of their merger, officially forming the new entity, Team Super.
Questioned about ROI calculations undertaken before attending the summit in the US, funds largely gave the same response – access to information about developments in the US is essential to acting in the best interests of members.
Following a strong January, volatility has crept back into sharemarkets on the back of weaker US economic data and policy uncertainty, according to Chant West.
The $93 billion fund’s internal global equities team has made its first move on behalf of members, with plans to expand its allocation and expertise over time.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
