Vision Super, Active Super to create $18b fund, names new CEO

Vision Super and Active Super have signed a merger heads of agreement and Stephen Rowe, Vision Super’s current CEO, has been appointed to the role of CEO of the merged fund.

The funds intend to merge to create a new, larger entity with around A$27 billion ($18 billion) in funds under management, 170,000 member accounts and a broader geographic presence across New South Wales and Victoria.

The current Active Super CEO, Phil Stockwell, will be leaving the fund and Donna Heffernan, Active Super deputy CEO, will become acting CEO until the merger is complete.

Lisa Darmanin, Vision Super chair, and Kyle Loades, Active Super chair, said, “Our two funds have a lot in common. The combined strength of a single fund across NSW and Victoria, with a focus on delivering strong retirement outcomes for members, will serve our members in local government and beyond for decades to come. We’ll be stronger together, without losing the focus of both funds on exceptional servi