POWERED BY MOMENTUM MEDIA
UniSuper and Australian Catholic Superannuation move forward on SFT deed
UniSuper and Australian Catholic Superannuation (ACS) have reached the next milestone in the merger activity between the two funds, having signed the Successor Fund Transfer (SFT) deed.
UniSuper chief executive, Peter Chun, said his super fund was pleased to progress the agreement with ACS.
“Our aligned values and member-first focus will help to ensure a smooth transition to UniSuper for ACS members. With members set to benefit from increased scale, we can’t wait to welcome all ACS members and support them in creating futures worth retiring for that don’t cost the Earth.”
ACS CEO, Greg Cantor, said: “This next step is important for our members as we continue the journey to enabling them the best retirement outcomes possible”.
Preparation had already begun for the transition, with both funds working to make the merger as seamless as possible.
The final stage would involve the continued collaboration between the funds to ensure the highest standard possible for the transition. It was anticipated that the merger would be finalised by the end of the year.
The funds said members and employers would receive detailed communications throughout the process.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
