UniSuper and Catholic Superannuation complete merger

The A$105 billion ($71 billion) UniSuper fund and the more than A$10 billion ($7 billion) Australian Catholic Superannuation (ACS) fund have completed a merger agreement, adding more than 80,000 former ACS members to UniSuper.

As a result of the successful execution of the Successor Fund Transfer (SFT), UniSuper will now have around A$115 billion ($78 billion) funds under management on behalf of 620,000 members.

UniSuper said the SFT was realized after considerable due diligence, planning and integration. Due to the efforts of both funds, the fund has achieved a successful transition in all members’ best financial interests.

“We’re really pleased to welcome members formerly from ACS to UniSuper,” said Peter Chun, CEO of UniSuper. “With all members set to benefit from increased scale, we are looking forward to this new chapter in UniSuper’s history. “Scale offers opportunities for the fund, keeping downward pressure on fees, ensuring that UniSuper c