UniSuper, Australian Catholic Superannuation complete merger

Yasmine Raso

Senior Journalist, Financial Newswire

7 December 2022

UniSuper and Australian Catholic Superannuation (ACS) announced they have completed the execution of the Successor Fund Transfer (SFT) to transition 80,000 former ACS members and $10 billion in funds under management (FUM).

The merger, completed after considerable due diligence, planning and integration, will see UniSuper grow to $115 billion in FUM on behalf of 620,000 members.

A statement from UniSuper said all current and new members can look forward to an “industry-leading” offering that provides access to strong performing products and an efficient financial advice team.

“We’re really pleased to welcome members formerly from ACS to UniSuper. With all members set to benefit from increased scale, we are looking forward to this new chapter in UniSuper’s history,” UniSuper CEO, Peter Chun, said.

“Our focus will continue to be on achieving amazing retirement outcomes for our members, new and old, and ensuring a smooth transition for those joining us from ACS”.

“Scale offers opportunities for the fund, keeping downward pressure on fees, ensuring that UniSuper can continue to leverage our position as an active investor, and unlocking investment opportunities that simply aren’t available to smaller funds.

“All of these factors position UniSuper to continue serving our members’ best financial interests.”

UniSuper also said both funds had been preparing for the merger and a successful transition for several months by working closely to ensure it was executed seamlessly while delivering the best outcomes for members.

“Our mission has always been to enable the best retirement outcomes possible for our members. After considerable due diligence, I am confident this merger delivers on that goal for our members,” ACS CEO, Greg Cantor, said.

“We have been very pleased with the cultural alignment of our fund with that of UniSuper and their commitment to work closely with our members and employers in Catholic agencies and Catholic schools.”