Unisuper and ACS in merger talks
Unisuper and Australian Catholic Super (ACS) have entered into merger talks.
Just months after Australian Catholic Super ended its merger talks with education-oriented, NGS Super, Financial Newswire has confirmed that the two superannuation funds have entered into a memorandum of understanding around a merger.
Staff of both superannuation funds are being informed of the moves this morning.
The merger, if it completes, will be the first for Unisuper which only recently became public offer, but it makes sense because Australian Catholic Super has coverage of both the Australian Catholic University and Notre Dame.
The merger would generate a fund with more than $116 billion in funds under management and nearly 600,000 members.
The chairs of both funds have told staff that the merger is aimed at delivering the scale necessary to continue improving services and returns to members.
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