Equity Trustees withdraws from Super Trustee business

Mike Taylor

Managing Editor and Publisher

23 June 2026

Equity Trustees has made its anticipated decision to withdraw from offering independent superannuation trusteeship via its subsidiary, Equity Trustees Superannuation Limited.

EQT Holdings Limited has told the Australian Securities Exchange (ASX) that it had made the decision following a strategic review and will now focus on its core Corporate Trustee Services and Trustee and Wealth Services business.

The ASX announcement said the strategic review of the Superannuation Trustee Services business had evaluated market dynamics, operating requirements, long-term growth opportunities and shareholder value while also considering the shifting regulatory environment.

It also noted that two major superannuation clients are currently exploring the option available to them to internalise trusteeship.

Commenting on the decision, Equity Trustees managing director, Mick O’Brien said it enabled a more focused, simplified and lower risk operating model centre on the firm’s core businesses.

“The independent superannuation trustee model has been a driver of growth and innovation across the industry over the past decade,” he said. “However, in the context of a shifting regulatory environment, higher operating costs and the evolving risk profile, EQT Holdings Limited concluded the business is better positioned to realise its full potential under alternative stewardship and it allows EQT Holdings Limited to priorities investment in the areas of the business where we can drive the greatest shareholder value.”

The announcement noted that the Superannuation Trustee Services business represented 5% of Group Net Profit Before Tax in the first half.

“Based upon results in 1H26, the business proposed to be exited oversees $95 billion of Funds Under Management and generates $36 million of annualised revenue. It has approximately $22 million of direct expenses and $11 million of shared corporate overhead expenses allocated to it.”

It said that if ETSL retires from its superannuation trustee appointments, EQT Holdings Limited will be required to repay the Operational Risk Financial Requirements loan facilities of $36 million which have been used to capitalise ETSL for ORFR purposes.

It said it is intended to manage the loan repayment as part of EQT Holdings’ ongoing capital management and liquidity planning with the net funding impact of any repayment depending on the final exit structure.

The ASX announcement said that there is currently no intention for EQT Holdings Limited to divest the ETSL entity or for either entity to alter ETSL’s financial standing.