Original article by Joyce Moullakis
The Australian – Page: 13 : 29-Jun-21
Superannuation funds Statewide Super and Hostplus have confirmed they are discussing a merger that would create a fund with assets of $77 billion. Statewide Super is based in Adelaide and has assets of $10.8 billion, while Hostplus has assets of $66 billion and has traditionally focused on workers in the hospitality, tourism, recreation and sports sectors. It recently announced plans to merge with the $3 billion Intrust Super, while the Australian Prudential Regulation Authority suggested in May that any super fund with assets under $30 billion would become increasingly uncompetitive against so-called megafunds.
STATEWIDE SUPERANNUATION PTY LTD, HOST-PLUS, INTRUST SUPER FUND, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY