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The two funds are pressing on with their “merger of equals” after hammering out the new entity’s board and leadership structure, promising complementary capabilities across retirement and advice, as well as fee savings for members.
Equip Super and TelstraSuper will merge to create a $60 billion profit-to-member fund, with Northern Trust a shoo-in for its custody and fund administration needs.
The “embers of optimism” are fading every day, and the $30 billion Equip Super is preparing for the big one. Still, there’s hope – however small – that the worst may be avoided.