Australia-based Prime Super and Aware Super have signed a non-binding memorandum of under-standing to explore a potential successor fund transfer (SFT) between the two profit-to-member superannuation funds.
The proposed SFT would create a combined profit-to-member fund with approximately A$254 billion ($179 billion) in funds under management and serving more than 1.4 million members. Pending the outcomes of due diligence, it is anticipated that the SFT would be completed towards the end of 2027.
While the due diligence process is under way, both funds will continue to operate independently with no disruption to members or employers.
