POWERED BY MOMENTUM MEDIA
Energy Super and LGIAsuper enter merger due diligence
Energy Super and LGIAsuper have signed a memorandum of understanding (MOU) to enter into merger discussions that would see the two form a $20 billion fund for 123,000 members.
The due diligence, the funds said, would explore synergies and benefits to members.
LGIAsuper chair, John Smith, said: “LGIAsuper’s strategy over the past three years has been to look for opportunities to achieve the size and scale to continue to deliver excellent financial outcomes and outstanding service for our 75,000 members long into the future.
“While the process with Energy Super is in the early stages, the areas of alignment are encouraging and warrant further exploration to see if we could better deliver for all members as a combined fund.”
Energy Super chair, Richard Flanagan, said a merger could help create better member outcomes through enhanced services and broader investment opportunities, and competitive fees.
Recommended for you
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
