Australia’s QSuper and Sunsuper funds mull over partnership
Australian funds QSuper and Sunsuper are in preliminary talks about a potential merger, both funds confirmed in a Nov. 4 joint statement.
According to The Sydney Morning Herald, QSuper has $113 billion in assets under management, and Sunsuper has $69 billion.
With a combined $182 billion in assets under management, if completed, the merger would form the country’s largest super fund, surpassing the $170 billion AustralianSuper.
In a joint statement, the funds confirmed they had entered into very early discussions about a possible alliance. The funds also noted that progress with the discussion depends on multiple factors, such as the partnership’s capacity to generate greater economies of scale that would create more value for members.
Karl Morris and Andrew Fraser, chairs of QSuper and Sunsuper, respectively, assured members that in the meantime, they would be kept informed of any material decisions.