POWERED BY MOMENTUM MEDIA
Major Queensland funds complete merger
Sunsuper has officially finalised its merger with AustSafe Super, bringing its funds under management to $64 billion and its member base to 1.4 million.
The merger would mean one in five workers in Queensland would be Sunsuper’s of members, and should produce total savings to members of $10 million per year.
Sunsuper credited the funds’ shared values as the driver of the merger, especially where rural and regional members were concerned.
“Like AustSafe Super, Sunsuper has a long heritage of supporting rural and regional areas and we remain committed to the strong foundations AustSafe Super has built in these communities over the last 30 years,” Sunsuper chair, Andrew Fraser, said.
The merger saw an advisory board of directors from both funds established to specifically focus on members in rural and regional communities.
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(%)
