Club Plus Super CEO Stefan Strano confirmed in a LinkedIn post this week that the merger was completed on Wednesday.
“It's a momentous occasion and I want to thank everyone who has worked so hard, guided throughout by the best interests of our members, to make this all come together in such a timely way,” Mr Strano said.
A memorandum of understanding between the parties was signed back in May, which would see Club Plus Super’s $3 billion in managed assets merge with AustralianSuper’s $200 billion.
Club Plus Super has around 60,000 members, in contrast to the 2.4 million signed up with AustralianSuper.
“Members of the two funds have many similarities coming from a wide range of workplaces and being focused on the delivery of strong long-term performance,” AustralianSuper’s then-chief executive Ian Silk said.
“This is a great opportunity for our two funds to get to know each other better as we work through the due diligence period.”
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
