Australia Post Super Scheme to merge with Australian Retirement Trust
The Australia Post Superannuation Scheme (APSS) has formally agreed to merge with Australian Retirement Trust.
The APSS Trustee’s Independent Chairman, Mark Birrell, said the merger would enable the APSS to tap into significant economies of scale that Australian Retirement Trust brings, with its more than $230 billion in funds under management and over 2 million members.
“It’s a very beneficial merger for our members and a welcome part of the creation of one of Australia’s largest and most significant super funds,” said Mr Birrell.
“Three years ago, the APSS initiated a review of the best ways to serve the long-term financial interests of our members and we are delighted that this competitive process sees us choosing to make a successor fund transfer into Australian Retirement Trust.”
Australian Retirement Trust divests Russian holdings
The following statement was made by Australian Retirement Trust’s Chief Investment Officer Ian Patrick on 3 March 2022: “Australian Retirement Trust has instructed its investment managers earlier this week to sell any remaining debt and equity investments and not to make any new investments in either Russia or Belarus, which has now entered the conflict alongside Russia. In doing so, investment managers have been instructed to ensure adherence to all legal requirements imposed by Australian law and other relevant sanctions regimes.”
Australian Retirement Trust publishes investment portfolio holdings
In March, Australian Retirement Trust published its portfolio holdings as at 31 December 2021.
Australian Retirement Trust Chief Executive Officer, Bernard Reilly, said the fund welcomes any measure that improves transparency across the sector and encourages Australians to engage with their super.
"Acting in our members’ best financial interests is our key priority, so we’re committed to improving the level and format of our disclosures to continue to be transparent with members," said Mr Reilly.