POWERED BY MOMENTUM MEDIA
HESTA and Mercy Super to merge
HESTA and Mercy Super are set to merge their two funds, having signed a letter of intent to merge via successor fund transfer.
This would see 13,000 Mercy Super members transferred to HESTA and create a fund with almost $70 billion in funds under management.
Subject to conditions, the funds aimed to complete the merger before the end of 2022.
HESTA chief executive, Debby Blakey, said: “I’d like to acknowledge the excellent service Mercy Super provides its members and the strong alignment we share through our focus on delivering better retirement outcomes for members and our dedication to serving the health sector.
“This merger is the start of a wonderful new chapter of our growth that we believe will benefit members and continue to position HESTA as the fund of choice for those wanting their super to have impact.”
Mercy Super chief executive, Wendy Tancred, said the merger had been strategically planned as the next logical step to ensure that their members’ super remained strong and sustainable into the future.
The Mercy Super board chose to enter into exclusive discussions with HESTA due to its strong track record of performance, future sustainability and deep links to the health sector.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
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(%)
