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ART and AVSuper successfully complete merger

Media release - 7 May 2024

Australian Retirement Trust (ART), one of Australia’s largest super funds, has successfully merged with AvSuper marking the funds 4th successor fund transfer (SFTs) this financial year.

As part of this transition, more than 4,800 new members and $2.43bn in funds under management (FUM) have transferred to ART from AvSuper.

ART’s Chief Commercial Officer, Dave Woodall, said onboarding AvSuper is an important step in the growth of ART as the Fund continues to expand in the best financial interests of its more than 2.3 million members.

“We’re proud AvSuper has trusted us to help their members prepare well for retirement. The successor fund transfer’s we’ve successfully undertaken to date not only demonstrate our confidence and skill in this space but shows the value we offer,” said Mr Woodall.

“Our more than 4,800 new members from AvSuper will benefit from Australian Retirement Trust’s global investment capability, award winning financial advice services and dedicated member support, including digital tools and education seminars. We’re very excited to be supporting them with these offerings.

“By continuing to grow our national footprint, we’re well on the way to achieving our target of $500 billion in funds under management by 2030, all whilst helping our members retire well with confidence.”

AvSuper Chief Executive Officer, Michael Sykes, said ART was an attractive choice as a merge partner due to its similar culture and member-first alignment.

“We first commenced the thorough process of finding a suitable merger partner back in 2021 and were impressed by the value ART offered our members.

“With this merge, we worked hard for the best outcome for our members. We believe Australian Retirement Trust will continue to manage their retirement benefits in their best financial interests as we have done for over 30 years,” said Mr Sykes.

During this financial year, ART has completed successful SFT’s with Woolworths, Commonwealth Bank and Alcoa.