POWERED BY MOMENTUM MEDIA
Lutheran Super to merge into Mercer Super
The $700 million not-for-profit fund Lutheran Super has announced it is to merge into Mercer Super, with the transfer set to take place in the fourth quarter this year.
John Grocke, chair of Lutheran Super, said the merger is in the best interests of its 5,700 members, including more than 300 pensioners.
“From the outset, we have sought a merger partner that could deliver the best retirement outcomes possible for our members,” Grocke said.
“Following a rigorous process, we’re pleased to have chosen the Mercer Super Trust, where our members will access a wider range of services, options and personalised support to get the most out of their super or pension,” he added.
“Importantly, members will continue to benefit from our tailored balanced investment option as well as other characteristics of the existing plan.”
The merger follows the announcement at the end of May that BT Super would merge into the Mercer Super Trust.
Tim Barber, CEO of Mercer Super, said the firm looked forward to serving Lutheran Super members.
“Mercer is proud of its long-term partnership with Lutheran Super, having provided administration, investment management and consulting services for the fund over many years,” Barber said.
“We know well the commitment they have to helping their members enjoy a healthy retirement, and we look forward to welcoming them to Mercer Super,” he added.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The fund has hired a former ART executive as its new head of group strategy.
The sovereign wealth fund has revealed six internal hires to support the execution of key strategies.
The fund has announced the departure of a second senior executive in as many months, with its chief member officer to finish up mid-December.
The $89 billion fund has announced a new leadership role within its private markets team.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
