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First State Super, VicSuper set July 2020 merger date
Investors - DECEMBER 13, 2019

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First State Super, VicSuper set July 2020 merger date

by Andrea Zander

First State Super and VicSuper have confirmed a merger between the two organizations will go ahead, naming the chief executive and chair for the combined A$125 billion fund ($86 million).

First State Super and VicSuper have signed a merger deed with a merger effective July, 1 2020.

First State Super chief executive Deanne Stewart will serve as chief executive of the merged funds, and Michael Dundon, chief executive of VicSuper, will become deputy chief executive.

A combination of the two would produce one of Australia's biggest superannuation funds, with assets under management of more than A$110 billion ($76 billion).

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