West Australian-based industry fund, Concept One is to merge with WA Super.
Super Review has had it confirmed that the decision to move towards a merger had been signed off today after around four months of negotiations between the two funds.
The merger will confirm WA Super’s status as the dominant superannuation entity in Western Australia.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.