Thomson Geer has advised superannuation fund Intrust Super on its merger with fellow super fund Hostplus.
The merger brings together two leading industry funds with a shared heritage and ethos to create a national superannuation fund with greater size and scale.
“We’re proud to have been able to help bring together two superannuation funds that will benefit the retirement savings of their members,” said Thomson Geer superannuation and wealth management partner Scott Charaneka.
Intrust Super’s heritage is in the hospitality, clubs, tourism and retail sectors, with over 90,000 members, 25,000 contributing employers and about $3 billion in assets under management.
Hostplus’ origins are in hospitality, tourism, recreation and sports sectors and has more than 1.25 million members, 233,000 contributing employers and $66 billion in funds under management. Hostplus is one of Australia’s largest and best performing superannuation funds in Australia.
The merger is targeted to complete on November 26, 2021.