Potential merger with Australian Catholic Superannuation

UniSuper and Australian Catholic Superannuation (ACS) have announced they’re exploring a potential merger which would provide ACS’s members with access to our industry-leading low fees, top investment performance and commitment to ESG-themed investment options.

Read the media release: UniSuper and Australian Catholic Superannuation to formally explore merger opportunity [1 December 2021]

Frequently Asked Questions

We’ve answered some common questions raised at these initial stages, and we’ll add more as the process continues.

What’s the process for deciding on a merger between UniSuper and ACS?

Following an initial assessment of the opportunity, we’ve signed a Memorandum of Understanding (MoU) with ACS to explore the potential merger.

Both funds are in the initial stages of an exploratory process. We’ve started conducting detailed due diligence on each other’s fund to fully understand if the merger would be in the best interests of all members.

The due diligence process will take until Q2 2022. Following that process, if it’s determined that the merger is in the interests of both funds’ members, the Trustees will execute a Heads of Agreement, with the aim of completing the merger by the end of 2022.

UniSuper will continue to communicate with our members, our employees, our members’ employers, and our Consultative Committee to update them as the process continues.

Have you alerted the regulators to the Memorandum of Understanding?

Yes. We recently advised APRA that UniSuper and ACS have signed a Memorandum of Understanding and have commenced due diligence to explore a potential merger.

What does it mean for UniSuper members?

UniSuper does not aim to be the biggest fund, we aim to be the best. We need to ensure we keep growing so that our Investment team continues to access great investment opportunities in an effort to maintain the superior investment performance we’ve provided our members. A merger with ACS will support that continued growth and ensure we deliver greater retirement outcomes well into the future.

This is the beginning of a long process, which will only continue to an outcome if it is determined to be in the best financial interests of our members.

What does it mean for Australia Catholic Superannuation members?

This is the beginning of a long process, so at this stage very little will change for ACS members.

ACS’s heritage in education aligns strongly with our links to academia and the higher education and research sector. If a merger is the outcome, then ACS members will benefit from our great performance and low fees to help them create strong financial futures.

When will the merger be finalised?

The due diligence process will take until Q2 2022. Following that, if it’s determined that the merger is in the interests of both funds’ members, the Trustees will execute a Heads of Agreement, with the aim of completing the merger by the end of 2022.

Can I join UniSuper now?

Yes, as an open fund, UniSuper welcomes new members anytime. Join us.

Will UniSuper be changing its name?

No. At this stage we don’t anticipate any changes to our name or the UniSuper brand. We remain the fund dedicated to the higher education and research sectors, now open to all Australians.

About UniSuper

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.
Find out more and join us.

Australian Catholic Superannuation

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.

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