Fund Company Updates

Maritime Super and Hostplus start asset pooling

In a challenge to the merger model when joining forces, two large industry superannuation funds are pooling their assets to create a $61 billion trust. An industry first, Maritime Super and Hostplus have announced an asset-pooling partnership that will come into effect in April 2021. Maritime Super is throwing in $6 billion in assets, with Hostplus putting in the rest. Everything besides this pooling of assets will stay the same.

Lazard restructures Australian business

Lazard, an international financial advice and asset management company is restricting its Australian arm, but won’t affect Lazard Asset Management. The restructure may result in a modified financial advice business model. Lazard Australian Financial Advisory is separate from Lazard Asset Management.