The holding company for Equity Trustees, EQT Holdings, has announced that it has finalised the acquisition of Zurich’s Australian superannuation trustee, Zurich Australian Superannuation (ZAS).
The acquisition deal was signed on 25 February and completed on 21 March.
ZAS is the superannuation trustee for the Zurich Master Superannuation Fund, which has approximately $1 billion in funds under trusteeship and 18,000 members across traditional, accumulation and pension products.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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