Retirement
Hostplus finalises merger with Statewide Super
The merger is complete.
Hostplus finalises merger with Statewide Super
The merger is complete.
On Friday, 29 April, Hostplus and Statewide Super announced the finalisation of their merger, resulting in over $81 billion in funds under management (FUM) and 1.5 million members, after signing a successor fund transfer (SFT) deed late last year.
Hostplus CEO David Elia called the merger “another important milestone” for the company.
“Our focus is on continuing to deliver exceptional outcomes for our expanded membership, including market-leading returns – especially from our MySuper Balanced option which is ranked number one for net investment performance over 7, 10, 15 and 20 years,” Mr Elia said.
“Over the past 24 months, Hostplus has experienced exponential growth with a 22 per cent increase in membership and 58 per cent increase in FUM.
“Our upcoming merger with $6 billion fund, Maritime Super, in addition to organic growth, means we can reasonably expect to reach $100 billion in FUM in 2023.”
About 98 per cent of Statewide Super employees have reportedly chosen to join the Hostplus team post-merger, while members will also gain access to extended phone and online servicing.
Due to the merger, Hostplus also confirmed the departure of Statewide Super chief executive officer, Tony D’Alessandro.
Mr Elia added that the transition of around 150,000 members from the self-administered Acurity platform into Hostplus’ Link Group will include defined benefit products.
Meanwhile, Hostplus will acquire an additional 122,744 members in South Australia (133 per cent increase) and 10,630 in the Northern Territory (60 per cent increase).
“This positions the fund well for future mergers,” he said.
“The ability to service defined benefit members will further broaden our appeal and suitability as a merger partner and I am confident this will contribute to our ongoing growth as a fund.”
RELATED ARTICLES
Superannuation
Aware Super elevates tech leadership with strategic appointment of Richard Exton
Aware Super, one of Australia's largest industry super funds, has announced a pivotal appointment to its executive team, underscoring the growing importance of technology, data, and artificial ...Read more
Superannuation
Rest appoints Marina Pasika as interim head of private markets
Rest, one of Australia's largest profit-to-member superannuation funds, has announced the appointment of Marina Pasika as the Interim Head of Private Markets. This decision comes as the fund embarks ...Read more
Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more
Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more
Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more
Superannuation
Super performance test faces a fork balancing member value productive investment and regulatory trust
APRA’s latest superannuation performance test results have reignited a high‑stakes debate: does the test optimise member value or unintentionally curb long‑term investment in housing, infrastructure ...Read more
Superannuation
Aware Super unveils innovative digital tool to boost retirees' financial confidence
Aware Super has unveiled a groundbreaking digital advice tool, Retirement Manager, designed to empower retirees by addressing their most pressing financial concerns. Developed in collaboration with ...Read more
Superannuation
APRA's super shake-up: Balancing accountability and innovation in the next round
Australia’s performance test has forced long-overdue transparency in super and accelerated consolidation. But as the regime broadens, its blunt edges are colliding with investment complexity, ESG ...Read more
Superannuation
Aware Super elevates tech leadership with strategic appointment of Richard Exton
Aware Super, one of Australia's largest industry super funds, has announced a pivotal appointment to its executive team, underscoring the growing importance of technology, data, and artificial ...Read more
Superannuation
Rest appoints Marina Pasika as interim head of private markets
Rest, one of Australia's largest profit-to-member superannuation funds, has announced the appointment of Marina Pasika as the Interim Head of Private Markets. This decision comes as the fund embarks ...Read more
Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more
Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more
Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more
Superannuation
Super performance test faces a fork balancing member value productive investment and regulatory trust
APRA’s latest superannuation performance test results have reignited a high‑stakes debate: does the test optimise member value or unintentionally curb long‑term investment in housing, infrastructure ...Read more
Superannuation
Aware Super unveils innovative digital tool to boost retirees' financial confidence
Aware Super has unveiled a groundbreaking digital advice tool, Retirement Manager, designed to empower retirees by addressing their most pressing financial concerns. Developed in collaboration with ...Read more
Superannuation
APRA's super shake-up: Balancing accountability and innovation in the next round
Australia’s performance test has forced long-overdue transparency in super and accelerated consolidation. But as the regime broadens, its blunt edges are colliding with investment complexity, ESG ...Read more
More articles
OUR PLATFORMS AND BRANDS
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Australian Accounting Awards
- Australian AI Awards
- Australian Aviation Awards
- Australian Aviation Summit
- Australian Broking Awards
- Australian Cyber Awards
- Australian Cyber Summit
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Law Forum
- Australian Space Awards
- Australian Space Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Lawyers Weekly 30 Under 30 Awards
- Commerical Finance Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
PODCASTS
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.