Fund Company Update

UniSuper and Catholic Super sign merger deed

UniSuper and the Australian Catholic Superannuation and Retirement Fund are to merge this year, with the signing of a Successor Fund Transfer deed.

IPE super merging with ART

The Australian Retirement Trust is adding another smaller superannuation fund to its books in a merger with Pivot Employees Superannuation Fund. Incitec Pivot Limited runs the fund for its employees, who work in the manufacture of explosives, fertilisers and industrial chemicals. The fund’s member numbers have been dwindling in recent years, now sitting at just over 760, with $210 million in funds under management.

Centrepoint refuses first Diverger offer

Centrepoint Alliance is in talks after Diverger’s acquisition offer wasn’t accepted at face value, with a statement saying the deal does not reflect the company’s strategic value. Diverger entered a takeover bid with a combined value of $63.6 million with a 19.99 per cent share in Centrepoint Alliance via a call option with major shareholder, Thorney Group.