Australian funds end merger plans
Australian Catholic Superannuation (ACS) and NGS Super have confirmed that, following discussions and extensive due diligence over the past 12 months, the funds will not merge.
Since the announcement of the planned merger in August 2020, the regulatory and commercial environments have changed considerably. Both funds will continue to focus on delivering the best outcomes for their members to help them achieve a financially secure future.
David Hutton, ACS chairperson, said, “Australian Catholic Superannuation remains committed to acting in the best financial interests of our members and will continue with our strategy to achieve greater scale into the future.”