More than a year after it was first canvassed, Tasmanian-based superannuation funds, Quadrant and Tasplan, this week completed their merger.
Announcing completion of the process, Tasplan chief executive, Wayne Davy said it had resulted in the creation of a bigger, stronger Tasmanian super fund that was already invigorating the Tasmanian economy and putting the State on the national super map.
“Tasplan is dedicated to seeing Tasmania thrive,” he said. “This is not just lip service — we’re doing it already through investments, employment and a commitment to excellence.”
He outlined the fund’s commitment to investment in Tasmania, saying the Tasplan Board had extended its commitment to investing in Tasmanian businesses through the Tasmanian Growth and Development Fund by a further $20 million.
Further, he said the fund had added to employment in the state by bringing its administration and call centre operations from the mainland to Hobart.
Davy said that to support its new business model, the fund had employed 38 new, local staff bringing the number of full time equivalent staff to 88, with more recruitment likely.
He said that as a result of the merger with Quadrant, Tasplan Super now had $3.3 billion in combined funds, 100,000 members, 15,000 employers, nine investment options, and 88 employees.
