The funds have signed a memorandum of understanding (MOU). Hostplus confirmed the news on Friday (18 February), which comes after Maritime Super had been looking into potential merger partners. In Ap
Maritime Super is in talks to merge with Hostplus, meaning nine of the 13 worst products in last year’s inaugural performance test are exiting the super system.
The country’s worst performing default superannuation fund has been forced to exit the industry, after mounting pressure from the prudential regulator over chronic underperformance.