Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 157 results for "Successor fund transfer"

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 ...

Australian Ethical selects new administrator

ANDREW MCKEAN  |  THURSDAY, 15 JUN 2023
... starting with the transition of superannuation administration services to a single provider. "Following the successor fund transfer (SFT) in November 2022, Australian Ethical is pleased to confirm that the initial integration program has been delivered ...

Mercer Super to take on corporate fund

JAMIE WILLIAMSON  |  THURSDAY, 25 MAY 2023
... this time with a Melbourne-based corporate superannuation fund. Mercer has confirmed it is undertaking a successor fund transfer with the Holden Employees Superannuation Fund (HESF), to be completed on or around June 1. The two formally began discussions ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
... probably comes from three main sources, the employer, the member, and then administrators and trustees upon a successor fund transfer." He said, assuming tax file numbers (TFN) are correctly disclosed and inputted, you'd assume a solid starting point ...