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Showing 41 - 50 of 160 results for "Successor fund transfer"

Industry funds gear up for brand transformation post-merger

ANDREW MCKEAN  |  TUESDAY, 19 DEC 2023
... early next year on their merger progress. In September, the funds cemented their commitment by signing a successor fund transfer deed and appointing Vasyl Nair, the current chief executive of Mine Super, to helm the merged entity. The two funds first ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
Once again, Financial Standard readers were captivated by the evolving superannuation landscape, with this year's top stories largely focused on this space. However, there was one particular executive move that simply couldn't be scrolled past. ...

Product modernisation will strengthen retirement outcomes: FSC

CHLOE WALKER  |  MONDAY, 20 NOV 2023
... products and investment structures within a superannuation fund or managed investment schemes. "Outside of a successor fund transfer (SFT), whereby a whole superannuation fund is transferred to another, and CGT relief applies for all members, there is ...

Australian Retirement Trust adds $12.3bn via CBA Group Super transfer

JAMIE WILLIAMSON  |  MONDAY, 20 NOV 2023
... Retirement Trust (ART), marking the latter's largest corporate merger. The two funds have completed the successor fund transfer, initially agreed to in February this year. They signed a non-binding heads of agreement on June 27, before finally agreeing ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... the sale of Advance Asset Management. Superannuation assets decreased by $33.4 billion because of the successor fund transfer to the Mercer Super Trust. BT Panorama flows increased by 7% to $129.9 billion. Elsewhere, the bank has not quantified the liability ...

Government to amend transfer balance cap laws

ANDREW MCKEAN  |  FRIDAY, 27 OCT 2023
... the superannuation system, ensuring that members aren't adversely impacted as a result of a merger or successor fund transfer. "Under current legislation, a member's cap may be unintentionally impacted due to the original income stream being treated ...

Mine Super, TWUSUPER commit to merger

JAMIE WILLIAMSON  |  FRIDAY, 29 SEP 2023
... The merger of the two industry superannuation funds will go ahead, with the chief executive selected. A successor fund transfer deed has been signed that will see Mine Super and TWUSUPER merge in early 2024, creating a $20 billion entity with 150,000 ...

Australian Ethical hits $9.2bn, focus turns to back-office

ANDREW MCKEAN  |  FRIDAY, 25 AUG 2023
... year-over-year growth in its funds under management (FUM), reaching $9.2 billion due to positive net flows and its successor fund transfer (SFT) with Christian Super. In an ASX announcement, the company reported underlying profit after tax (UPAT) of ...

Australian Retirement Trust completes Woolworths, Endeavour merger

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... finalised its merger with Woolworths and Endeavour Group, adding over 25,000 new members. Following the successor fund transfer (SFT) with Woolworths and Endeavour, ART's funds under management increased by $4.3 billion, pushing its total funds under ...

Raiz increases portfolio fees

KARREN VERGARA  |  TUESDAY, 1 AUG 2023
... division of AMG Super and switched trustees from Diversa to Equity Trustees after it was determined that a successor fund transfer was in the best interests of members. In May, it launched the Raiz Property Fund to enable investors to allocate up to ...