In this guide
- Australian Ethical and Christian Super explore merger
- Super gender gap was decreasing before Covid
- Colonial settles class action with super members for $56.3 million
- Federal Court orders Westpac to pay $20 million penalty
- Hostplus expands its investment options
- Australian Retirement Trust focusses on ESG with new appointment
- Only one third of financial advisers pass February exam
- Easter bunny hit by inflationary pressures
Australian Ethical and Christian Super explore merger
Australian Ethical Investment and Christian Super have signed a memorandum of understanding to finalise a due diligence process and explore the synergies of merging the two funds.
Due diligence is expected to be completed by the end of May 2022 and, if successful, Christian Super members would join Australian Ethical Super via a successor fund transfer in late 2022 or early 2023 to create a $9 billion ethical super fund.
“We’re delighted to be exploring this opportunity with Christian Super,” Australian Ethical chair Steve Gibbs said.
“It is a meaningful endorsement of our purpose and investment philosophy, which remain unchanged and only strengthened by this opportunity.”
Christian Super chair Neville Cox also said they were excited to explore a potential merger with a “fellow pioneer” of responsible investing in Australia.
“There are many synergies and areas of close alignment in our approach and we look forward to working together to shape a shared future for combined member benefit,” Cox said.
Christian Super was on the Australian Prudential Regulation Authority’s (APRA) first list of 13 underperforming super funds.
Learn more about super fund mergers.
