POWERED BY MOMENTUM MEDIA
COVID-19 extends MTAA/Tasplan merger timeline
COVID-19 has hit the brakes on the merger of MTAA Super and Tasplan with the two funds opting to extend the timeline for the process.
The two funds said that the merger date originally set for 1 October, this year, had been extended to no earlier than 31 March, next year.
The extension decision followed a joint recommendation from MTAA Super chief executive, Leeanne Turner and Tasplan chief executive, Wayne Davy to the chairs of both boards.
Sustained market volatility and concerns about supplies of specialist services were explained as being key factors behind the extension.
Turner said that despite the new timeline the decision behind the merger
Despite the new timeline, Turner said today that the decision behind the merger and the benefits to members of both funds remained unchanged.
“We still believe the merger is in the best interest of members of both funds. A combined fund will provide greater efficiencies, improved products and services, increased capability, and better value to members. So, we remain fully committed to the merger — just with an extended time,” Turner said.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
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
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
