Hostplus finalises merger with Intrust Super

30 November 2021
| By Laura Dew |
image
image
expand image

Hostplus has completed its merger with Intrust Super, creating a superannuation fund with combined $69 billion in funds under management (FUM).

Hostplus had $66 billion in FUM with 1.3 million members while Intrust Super, which serves the hospitality and retail sector, had 90,000 members and $3 billion in FUM.

The merger was first announced in June 2021, and Hostplus was also looking to merge with Statewide Super in the second quarter of 2022. 

David Elia, chief executive of Hostplus, said: “We are absolutely delighted with the successful merger, as we continue to create a truly national fund of greater size and scale, supporting the best financial interests of our broadening membership.

“We are immensely proud of the benefits the merger will provide to our newly combined membership, and look forward to welcoming Intrust Super’s members, employers and staff to our growing fund.”

Intrust Super chief executive, Brendan O’Farrell, said: “The shared heritage and traits of Intrust Super and Hostplus formed a solid foundation for what we know will be a great union of our funds.

“The merger puts the best financial interests of both funds’ members first and supports our continued growth, competitiveness, sustainability, and success.

“These factors will help to further secure strong retirement outcomes for Intrust Super’s members now, and into the future.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 1 week ago
Kevin Gorman

Super director remuneration ...

10 months 2 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 2 weeks ago

The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members. ...

1 day 19 hours ago

Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award....

2 days 10 hours ago

APRA data shows the CFMEU accounted for 28 per cent of super fund industrial contributions, with the shadow treasurer calling for a prompt investigation into the payments...

3 days 14 hours ago