Hostplus and Club Super will officially complete their merger today, Friday 1 November 2019.
Hostplus, with 1.2 million members and $45 billion under management will be joined by Club Super’s 22,000 members, who collectively have $600 million invested for their retirement.
Hostplus Chief Executive David Elia said the merged fund would be stronger, with additional economies of scale, offering the merged membership a continuation of the successful ‘all profit to members’ strategy.
“We welcome the members of Club Super, along with employers and key staff into the Hostplus family, in a merger designed to deliver all members greater access to a wide range of investment options and benefits,” Mr Elia said.
“Hostplus and Club Super have the same DNA, the same collective heritage, dedicated to serving members from the tourism, hospitality, sporting and recreation sectors.”
“Our pledge is that the newly merged fund will continue to deliver high-quality products and services to members and their families, with superior investment performance and retirement outcomes for all.”
“In undertaking a merger, Hostplus and Club Super recognise that both organisations have a strong alignment and shared values.”
Mr Elia said Club Super members would have their accounts transferred to Hostplus by 14 November and would then be able to switch between Hostplus’ range of investment options.