AustralianSuper and Club Plus Super explore merger | Asia Asset Management
Australia’s largest superannuation fund AustralianSuper and Club Plus Super are exploring a combination to form an even bigger fund with A$203 billion (US$156.31 billion) of assets. It’s the latest merger plan in an industry with more than 185 funds of varying sizes and A$3.04 trillion of total assets as of December 2020, serving around 15 million members, according to data from the Association of Superannuation Funds of Australia (ASFA). Many of the funds are looking to merge to cut costs, especially in the wake of the coronavirus pandemic. ASFA says around two-thirds of funds incurred a...
Source: asiaasset.com