Tasplan and Quadrant finalise merger
Industry funds Tasplan and Quadrant Super have formalised their merger following an announcement of intentions to join the two funds earlier this year.
The two funds will operate under the Tasplan brand from November 2015, bringing together over $3 billion in FUM, approximately 110,000 members, and servicing more than 15,000 employers.
Chair of the new entity Taslpan's Naomi Edwards, believes the merger follows a larger trend of consolidation in the super industry.
"The Australian super industry is growing, and with that growth comes change, and rising expectations from the market. Mergers that can bring together like‐minded partners focused on delivering the best outcome for members, will be best placed to use their size and complementary attributes to raise the bar for those members," Edwards said.
Quadrant's current chief executive Wayne Davy will head the newly combined entity.
AUTHOR
Priya Prakash
Recommended for you
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
