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Hostplus leaps into biggest 5 funds.

Hostplus and Statewide Super today announced the finalisation of their merger, resulting in more than $81 billion in funds under management (FUM) and 1.5 million members.

The merger now places Hostplus in the top five largest superannuation funds by membership and top ten by FUM1. Chief Executive Officer David Elia says the continued plans for growth and increased scale position the fund for enhanced member benefits.

“This is another important and incredibly exciting milestone for Hostplus. Our focus is on continuing to deliver exceptional outcomes for our expanded membership, including market-leading returns – especially from our MySuper Balanced option which is ranked number one for net investment performance over 7, 10, 15 and 20 years.2

“Over the past 24 months Hostplus has experienced exponential growth with a 22 per cent increase in membership and 58 per cent increase in FUM3.

“Our upcoming merger with $6 billion fund, Maritime Super, in addition to organic growth, means we can reasonably expect to reach $100 billion in FUM in 2023.

It was this drive to deliver members’ benefits which led the Board of Statewide Super, chaired by Independent Chairman Ken Williams, to choose Hostplus as its merger partner, after considering a number of funds who courted the high-performing South Australian fund.

The member-facing Super Hub in the heart of the Adelaide CBD will remain and Statewide Super members will benefit from extended phone and online servicing, from 7.30am-7.30pm ACST Monday to Friday. Servicing by local staff in South Australia and Northern Territory will also remain.

Reflective of Mr Elia’s stance that this is “a merger in the truest sense of the word”, almost 98 per cent of Statewide Super employees chose to join the Hostplus team post-merger.

“I look forward to warmly welcoming Statewide Super members and employees to Hostplus,” says Mr Elia.

Mr Elia says the successful transition of around 150,000 members from the self-administered Acurity platform, into Hostplus’ Link Group environment, included members with defined benefit products.

“This positions the fund well for future mergers. The ability to service defined benefit members will further broaden our appeal and suitability as a merger partner and I am confident this will contribute to our ongoing growth as a fund,” says Mr Elia.

Hostplus will acquire an additional 122,744 members in South Australia (133 per cent increase) and 10,630 in the Northern Territory (60 per cent increase)4. Importantly, this includes members from the local government and public sectors, cementing its position as a truly national, multi-sector industry fund.

Hostplus would like to acknowledge and congratulate outgoing Statewide Super chief executive officer, Tony D’Alessandro, and the Statewide Super Board, on a professional and seamless transition, delivered in the best interests of members.

1 Source: APRA Fund level superannuation statistics, June 2021.
2 Source: SuperRatings Accumulation Fund Crediting Rate Survey – SR50 Balanced (60-76) Index, 31 December 2021.
3 Source: Hostplus
4 Source: Hostplus and Statewide Super

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.