POWERED BY MOMENTUM MEDIA
Sargon acquires Diversa
In what represents further consolidation of the sector, financial technology company Sargon has announced it has acquired the Trustee Services business, comprising Diversa Trustees Limited and CCSL Limited (Diversa) from OneVue Holdings Limited for a total purchase consideration of $43 million.
Established in 2009, Diversa was one of the largest providers of superannuation trustee services with over $10 billion in assets under trusteeship, with Sargon’s assets under trusteeship and supervision now exceeding $50 billion.
Phillip Kingston, Sargon chief executive, said they had acquired a company with a solid operating track record with talented industry veterans.
“The acquisition will bolster Sargon’s capability and scale in trustee services, enabling us to expand our impact further in helping institutions and entrepreneurs to build better funds and financial products,” Kingston said.
Kingston said Diversa’s clients would soon have access to the Sargon Trustee Cloud, the company’s purpose-built trustee cloud infrastructure.
“At its core, Sargon is an enabling partner for institutions, entrepreneurs and governments looking to develop world-leading funds, financial products, platforms and pension systems that drive member outcomes, domestic investment and economic growth,” Kingston said.
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(%)
