POWERED BY MOMENTUM MEDIA
Mercer Super announces third merger
Mercer Super has announced it had acquired the Holden Employees Superannuation Fund (HESF).
This followed the fund’s merger with BT Super and Lutheran Super, and recently reached 850,000 members and $63 billion in funds under management.
The two funds signed an agreement to merge HESF into Mercer Super Trust through successor fund transfer (SFT). The SFT was expected to occur on or around 1 June, 2023.
“We’re very proud of the partnership we’ve built with HESF over many years, and look forward to welcoming HESF members to Mercer Super in the coming weeks,” said Tim Barber, Mercer Super’s chief executive.
“Mercer Super is on a growth trajectory, and our intention is to keep growing and investing in Mercer Super for the benefit of our members. Scale provides natural flow-on effects for members, with the identifiable benefit being competitive fees,” he added.
Barber also identified the ‘less tangible benefits’ of the merger, including enhanced education, engagement, expanded choice and an improved member experience.
“We have an ongoing commitment to improving our capability and capacity to help even more Australians through their retirement journey,” he concluded.
In a recent interview with Super Review, the chief executive noted that Mercer was not “merging to survive”, but instead was focused on adding value to its client proposition.
“We would like to do more mergers if the right ones arise, we think that growth is now enabled and we are in a stronger position to grow now because our competitive position is enhanced,” he said.
AUTHOR
Jasmine Siljic
Jasmine Siljic is a journalist at Super Review. Prior to joining SR, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.
Recommended for you
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
