1 December 2021
UniSuper the $105 billion Fund and Australian Catholic Superannuation the $11 billion Fund have signed a memorandum of understanding to explore a potential merger.
UniSuper and Australian Catholic Superannuation have today announced they are exploring a potential merger which would provide ACS’s members with access to UniSuper’s industry-leading low fees, top investment performance and commitment to ESG-themed investment options.
UniSuper’s Chair Ian Martin said “UniSuper does not aim to be the biggest fund, it aims to be the best, exceeding members expectations and providing exceptional retirement outcomes.
“UniSuper is one of a small number of funds that already has more than $100 billion in funds under management. We will continue to grow sensibly using strong member outcomes as the key focus behind our decisions,” Mr Martin continued.
Any future decisions made by UniSuper and ACS will be based on what is in the best financial interests of both funds’ members. Both funds have commenced conducting due diligence to fully understand the potential benefits for members of any potential merger activity.
Mr Martin said “Putting members best interests at the heart of everything we do is a number one priority for UniSuper. We are pleased to have entered into negotiations but naturally will weigh up what is in the best interest of our members as we make any decisions.”
Australian Catholic Superannuation Chair David Hutton said “The Fund has always pursued its strategy to achieve greater scale as part of our commitment to working in the best interests of our members. A merger with UniSuper provides our members with a niche fund and scale, well positioned to continue to secure the financial futures of our members.”
The next stage in the process would be a Heads of Agreement, which is not expected until Q2 2022. UniSuper and ACS will continue to communicate with their members, employees, employers, key stakeholders and the Consultative Committee to update them as the process continues.
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Note to editors
UniSuper is one of Australia’s largest superannuation funds and is run solely for the benefit of its members. For more than 35 years, UniSuper has been managing super for people employed in the higher education and research sector and is now open to all Australians. UniSuper currently invests around $105 billion on behalf of 500,000 members.
Australian Catholic Superannuation is the super fund of choice for the Catholic community in Australia and is open to anyone eligible for superannuation. Over 85,000 members and more than 15,000 participating employers nationally have selected Australian Catholic Super as their choice of superannuation fund. As a not-for-profit super fund, it exists solely for the benefit of its members, looking after over $11billion funds under management. Visit www.catholicsuper.com.au.