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Hostplus and Statewide Super sign SFT deed

Hostplus and Statewide Super have today signed the Successor Fund Transfer (SFT) deed to formalise the progression of a merger between the two high-performing industry super funds.

The SFT deed will allow Statewide Super to transfer their members and investments to Hostplus.

Hostplus continues to grow as the lifetime fund of choice for Australians and employers from a broad range of backgrounds and industries.

The merger between these long-standing, well-established profit-for-member industry super funds will result in a multi-sector, national fund anticipated to have over 1.5 million members, 280,000 contributing employers and more than $85 billion in funds under management1,2.

David Elia, Chief Executive Officer of Hostplus, said today is an important step towards a successful merger between the two funds.

“We are absolutely delighted today as we continue to create a national fund of greater size and scale, supporting the best financial interests of our broadening membership. We are really proud of what we continue to build at Hostplus and we look forward to welcoming Statewide Super’s members, employers and staff in 2022.”

“I have enormous respect for Statewide Super’s achievements and their dedication to their members over many years. Positive mergers like this one are another great way we can both deliver significant benefits to our members.

”Chief Executive Officer of Statewide Super, Tony D’Alessandro, said he is very pleased with the outcomes of the comprehensive due diligence and demonstrable benefits for Statewide Super members.  

“Statewide Super members, who are in majority down the central corridor of Australia, will benefit from being with a super fund of larger scale.”

“This merger will lead to low administration fees, no asset-based administration fees, an expanded product range and greater investment opportunities, while still offering local servicing both in-person and over the phone in South Australia and the Northern Territory,” said Mr D’Alessandro.

As a result of the merger, the benefits of this local servicing will be extended to the more than 60,000 Hostplus members based in SA and NT. 

An extension of the continuation of local services is the retention of Statewide Super staff. 

“We are pleased Hostplus remains committed to continuing our legacy of investment in SA and the NT. We anticipate this merger will bring greater opportunities for investments and sponsorships to benefit our members and communities,” said Mr D’Alessandro. 

Statewide Super retains strong ties to local government in SA and NT which will add to the diversity of the membership of the merged fund.

The SFT is expected to take place on 1 April 2022.

1 Projected figures of combined fund size and assets at merge date.
2 Hostplus anticipates managing $92 billion in funds under management, including other investments managed by the Hostplus Pooled Superannuation Trust.

This website is issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657 495 890, MySuper No 68657495890198. Hostplus Self-Managed Invest (SMI) is issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Pooled Superannuation Trust (PST) ABN 13 140 019 340. It contains general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement (PDS) or Hostplus SMI PDS before making a decision about Hostplus. For a description of the target market, please read the Target Market Determination (TMD), available at hostplus.com.au. You can view detailed disclaimers here. Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514 to facilitate the provision of personal financial advice to members of Hostplus. Advice is provided by financial planners who are Authorised Representatives of IFS. Fees may apply for Comprehensive Financial Advice, further information about the cost of comprehensive advice is set out in the relevant IFS Financial Services Guide, a copy of which is available from your financial planner. Hostplus has engaged Link Advice Pty Ltd ABN 36 105 811 836, ASFL 258145 to facilitate the provision of limited personal financial advice to members of Hostplus via the web-based product Super Adviser.