POWERED BY MOMENTUM MEDIA
EQT and Aon link in $5.2b super partnership
Equity Trustees (EQT) and Aon have entered into a $5.2 billion partnership which will see the merging of the Aon Master Trust and the Executive Superannuation Fund.
The firms said the new alliance reflected members’ needs for international and independent superannuation options.
Aon will assume responsibility for products and distribution under the new relationship, and EQT will run the trustee services, subject to the regulator’s approval.
EQT managing director, Mick O’Brien, said that Aon would bring a global aspect to the Australian specialist trustee company.
“With $130 billion in funds under management (FUM) globally, Aon brings international expertise to superannuation solutions at a time when the industry is moving to an increasingly global outlook,” he said.
Aon said the partnership would allow the company to offer its members superannuation solutions that better reflect the industry’s need for independent oversight.
Aon Hewitt Pacific chief executive, Steven Gaffney, said: “Equity Trustees brings its specialist independent trustee skills to an industry that is growing, and increasingly dependent on capable and trustworthy oversight”.
He noted that the merger would position the firm to provide lower costs and increased buying power to provide superior investment options.
The partnership is subject to approval from the funds’ trustee boards.
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
