The $230 billion fund resulting from the proposed merger of QSuper and Sunsuper will be called “Australian Retirement Trust”.
Sunsuper confirmed in a statement on Monday that the fund resulting from its merger with QSuper would be called Australian Retirement Trust.
The planned merger is on track to proceed on 28 February 2022 pending final board, regulatory and legislative approvals.
Commenting on this “important step forward”, Australian Retirement Trust chief executive officer Bernard Reilly declared the new fund would be a “force for good”.
“Australian Retirement Trust captures the key elements of our proposed organisation: our fund is for all Australians, no matter where they live or what industry they work in,” said Mr Reilly.
“We will guide our members to and through retirement, and as a fund that works for members, not shareholders, we will be trusted to work in their best interests,” he added.
Australian Retirement Trust is expected to continue both Sunsuper’s and QSuper’s focus on working for members, leveraging its size and scale to “make our members’ world better”, Mr Reilly said.
Australian Retirement Trust’s future trustees have flagged that they intend to deliver a post-merger fee reduction to apply from the start of the next financial year, with final details to be communicated to members prior to 30 June 2022.
Australian Retirement Trust will be headquartered in Queensland, with offices around Australia.
Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.
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