POWERED BY MOMENTUM MEDIA
UniSuper and Australian Catholic Superannuation move forward on SFT deed
UniSuper and Australian Catholic Superannuation (ACS) have reached the next milestone in the merger activity between the two funds, having signed the Successor Fund Transfer (SFT) deed.
UniSuper chief executive, Peter Chun, said his super fund was pleased to progress the agreement with ACS.
“Our aligned values and member-first focus will help to ensure a smooth transition to UniSuper for ACS members. With members set to benefit from increased scale, we can’t wait to welcome all ACS members and support them in creating futures worth retiring for that don’t cost the Earth.”
ACS CEO, Greg Cantor, said: “This next step is important for our members as we continue the journey to enabling them the best retirement outcomes possible”.
Preparation had already begun for the transition, with both funds working to make the merger as seamless as possible.
The final stage would involve the continued collaboration between the funds to ensure the highest standard possible for the transition. It was anticipated that the merger would be finalised by the end of the year.
The funds said members and employers would receive detailed communications throughout the process.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
