POWERED BY MOMENTUM MEDIA
Vision Super and Active Super announce merger date
Vision Super and Active Super have signed a successor fund transfer deed (SFT), announcing a merger date of 1 March 2025.
With Vision Super set to be the successor fund, the new entity will hold some $29 billion in funds under management and 170,000 member accounts.
The merger was first discussed between the two funds in June 2022 and a heads of agreement was signed between the two funds a year later.
Commenting on the signed SFT, Graham Sherry, Vision Super chair, said this as an “exciting milestone” in the merger process.
“The signing of the successor fund transfer deed brings us a very significant step closer to realising the benefits of this merger for our members,” he said.
Active Super chair Kyle Loades highlighted the combined strength of the two funds.
“With over 100 years’ combined experience serving our members in local government across New South Wales and Victoria, the two most populous states in Australia, the merged fund is set to become the pre-eminent traditional local government fund in Australia,” Loades said.
Vision Super CEO Stephen Rowe will lead the merged fund as its new chief executive.
During the transition period, he will work alongside Active Super’s acting CEO Donna Heffernan, who has held the role since June 2023.
Rowe said the expected benefits for members from the merger remain strong.
“We expect to see benefits for members over time including cost savings and greater economies of scale as time goes on as the merged fund will strive to deliver improved products and services,” he said.
He said that the merged fund will be internally administered, using Vision Super’s existing Acurity Registry platform, which the fund has used since 2016.
“Internal administration allows us to provide efficient, award-winning member service at a competitive cost,” Rowe said.
The funds said transition is “well underway” in advance of the SFT date of 1 March 2025.
It will continue to maintain its presence in Sydney and across regional NSW in Newcastle, Wollongong, Ballina, Wagga Wagga and Orange, as well as Melbourne and regional Victoria.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
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
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
