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AustralianSuper, Club Plus Super explore potential merger
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Melbourne-based AustralianSuper and Sydney-based Club Plus Super agreed to work toward a potential merger, the funds said Thursday.
Exploring the benefits of a merger is in the best interests of Club Plus Super s participants, with the A$210 billion ($162 billion) AustralianSuper emerging from a rigorous process as the choice to provide the best financial outcomes for them, Stefan Strano, chief executive of Club Plus Super, said in a joint news release.
An AustralianSuper spokesman said there are no timelines for coming to a conclusion regarding whether a merger would be in the interests of both funds participants.