AustSafe Super to merge with Sunsuper

The combined superannuation fund will have more than A$58bn in funds under management.

AustSafe Super and Sunsuper will be merging by early 2019.

Andrew Fraser, chairman of Sunsuper, said the merger will facilitate further investment in assets such as infrastructure and utilities through potential office expansions and by supporting Australia’s local and community-based programmes.

The combined fund would make it one of Australia’s biggest superannuation funds, with more than A$58 billion ($43.3 billion, €36.9 billion) in funds under management and 1.4 million members.

In May 2018,  Sunsuper successfully completed its merger with Kinetic Super, which brought Sunsuper’s membership to more than 1.3 million members and A$55 billion in funds under management.

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