POWERED BY MOMENTUM MEDIA
Mine Super and TWUSUPER unveil name
Mine Super and TWUSUPER have confirmed the name of their merged fund, due to be completed in mid-2024, will be Team Super.
The merger was first announced in December 2022 and will create a fund with over 150,000 members and $20 billion in funds under management. A successor fund transfer (SFT) was then signed at the end of September 2023 and Vasyl Nair, chief executive of Mine Super, was named as the head of the new combined fund.
The two funds have now announced it will be called Team Super upon completion.
Mine Super chair Christina Langby and TWUSUPER chair Nick Sherry said the name has been chosen to reflect the industry base of both funds.
“The name Team Super reflects the existing industry base of both funds – transport, energy, and mining workers and a deep ongoing commitment to the history and service to these sectors,” they said.
“The new profit-to-member industry fund, will focus on growth across the industry sectors, while improving the best outcomes possible for members.
“Team Super reflects the vision of a genuine merger, with the opportunity for future merger partners, which reflects the true ‘team’ approach, with an ongoing focus on growth in a particular industry or workplace sector.”
One of the first industry super funds, Mine Super was established in 1941 and manages $12.5 billion for 55,000 members, many of which sit in mining and related industries.
TWUSUPER is a newer fund, having launched in 1984 to provide super for workers in the transport industry. It manages $6.5 billion for 99,000 members.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
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.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.
Assistant Treasurer Stephen Jones has defended the government’s plan to modestly cut tax concessions for Australia’s wealthiest superannuation accounts, saying it is a “fairer outcome”.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
