POWERED BY MOMENTUM MEDIA
Media Super to merge with Cbus
It’s now official, Media Super and Cbus Super are to merge.
The two industry superannuation funds announced today they had signed a memorandum of understanding and will commence due diligence on a joint arrangement to be in operation in 2021.
The merger had been the subject of substantial speculation and was confirmed in a joint statement today.
Media Super oversees just under $6 billion in retirement savings for workers predominantly in the printing, arts, media, and entertainment industries. Cbus is a $54 billion dollar fund primarily for workers in the building, construction and allied sectors. The joint arrangement will potentially The manage the retirement savings of over 800,000 Australians.
The statement said the partnership would see a merging of the funds’ investment and administration operations with both the Cbus Super and Media Super branding being maintained.
Commenting on the move, Media Super chair, Gerard Noonan said the joint arrangement would let Media Super members access the benefits of scale.
“By increasing our size, we can provide access to a greater range of investment opportunities and provide a better deal through cost savings, potentially reducing the investment fees,” Mr Noonan said.
Recommended for you
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
As institutional investors grapple with shifting sentiment towards US equities and fresh uncertainty surrounding tariffs, Australia’s Aware Super is sticking to a disciplined, diversified playbook.
Market volatility continued to weigh on fund returns last month, with persistent uncertainty making it difficult to pinpoint how returns will fare in April.
The Association of Superannuation Funds of Australia (ASFA) has called for the incoming government to prioritise “certainty and stability” when it comes to super policy.
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(%)
