We’re pleased to announce that we’ve moved to the next phase of our merger discussions with VicSuper, having signed a Binding Heads of Agreement, subject to due diligence.
Our merger discussions have been progressing well to date and we believe there could be significant benefits for members of both funds should the merger proceed.
Earlier this year we announced that we’d started discussions with VicSuper to explore the benefits of a merger. We’re really pleased to announce that we’ve moved to the next phase of our merger discussions being due diligence, and have signed a Binding Heads of Agreement. Merger discussions have been progressing well to date and we believe there could be significant benefits for our members should the merger proceed.
Over the coming months, both funds will undertake a detailed review of each other’s operations through the due diligence process. We’ll consider various operating models and discuss how best to leverage the potential combined investment scale to deliver even better outcomes for our members. At this early stage, no decision has been made around the future operating model.
In the meantime, it’s business as usual for both funds. We’ll continue to provide the exceptional level of service that our members and employers have come to expect from us. Our members and our employers continue to be our number one priority.
For more information about the proposed merger and to learn more about the synergies between First State Super and VicSuper, If you have any questions give our Member Services team a call on 1300 650 873.