Future Group partners with Guild Super
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Future Group, a collective of super funds and financial services, has entered into a strategic partnership with Guild Super, with the transaction expected to settle in December.
Prior to this occurring, the Trusteeship of the Guild Retirement Fund will transition from Guild Trustee Services to Equity Trustees Superannuation Limited. This transition and the wider transaction were approved by the Victorian Supreme Court on Monday 30th October, it said.
Guild Super has $2.77 billion in funds under management (FUM) and over 99,000 members and includes Child Care Super – a separate brand that operates within the same fund
Under the terms of the deal, the trustee of the Guild Retirement Fund will change from Guild Trustee Services to Equity Trustees (ETSL).
ETSL is the trustee for Future Group’s other funds, Future Super and smartMonday (smart Future Trust).
Future Group in 2022 finalised a deal to acquire global insurer Aon’s superannuation business, smartMonday.
“Today is a milestone for Future Group as we continue to grow and scale. Following this transaction we will be supporting over 383,000 members with over $13.4 billion in Funds Under Management and Advice across four brands: Guild Super, Child Care Super, Future Super and smartMonday. This makes us one of the top 15 largest superannuation groups by number of members served,” Future Group founder and chief executive, Simon Sheikh, said.
In the leadup to this acquisition, Future Group completed a successful capital raise, securing $15 million in Series C funding, with investors including Dominic Pym, Ellerston Capital and Understorey Ventures.
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