ART, AVSuper successfully complete merger

Australian Retirement Trust (ART), one of Australia’s largest super funds, has successfully merged with AvSuper, marking the fund’s fourth successor fund transfer this financial year.

As part of this transition, more than 4,800 new members and A$2.43 billion ($1.61 billion) in funds under management have transferred to ART from AvSuper.

Dave Woodall, ART’s chief commercial officer, said onboarding AvSuper is an important step in the growth of ART as the fund continues to expand in the best financial interests of its more than 2.3 million members.

“By continuing to grow our national footprint, we’re well on the way to achieving our target of A$500 billion [$332 billion] in funds under management by 2030, all whilst helping our members retire well with confidence,” said Woodall.