Original article by Joanna Mather, Michael Roddan
The Australian Financial Review – Page: 3 : 25-Jun-20
Media Super chairman Gerard Noonan has confirmed that the industry superannuation fund is in the "very early stages" of talks regarding a merger with Cbus. He stresses that Media Super is likely to retain its own branding if the deal proceeds. The fund short-listed Cbus and AustralianSuper as potential merger candidates following a tender process. Media Super has about 75,000 members and some $6bn worth of assets under management. Data from the Australian Prudential Regulation Authority shows that Media Super has lost an average of six per cent of its members annually over the past three years.
MEDIA SUPER LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, AUSTRALIANSUPER PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY