TelstraSuper, Aware Super exploring $228b merger deal
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The news: TelstraSuper and Aware Super have signed a non-binding memorandum of understanding to consider a potential merger that would bring approximately $228 billion in funds under a single entity.
The numbers: The merged profit-to-member superannuation fund would have about $228 billion in funds under management across more than 1.3 million members.
The context: The merger is expected to be executed in Q4 of financial year 2026 via a successor fund transfer – a bulk transfer of members and benefits from one superannuation fund to another.
The deal is subject to “a comprehensive due diligence process to ensure the proposed merger is in the best financial interests of their respective members”, according to a joint statement.
They also claim the merger would combine Aware’s “innovative digital capabilities” with TelstraSuper’s “personalised service excellence”.
What they said: “It is expected that the proposed merger will deliver lower fees, an expanded investment menu and a national servicing footprint to help TelstraSuper members further enhance their planning and transition into retirement,” TelstraSuper chair Anne-Marie O’Loghlin said.
Aware Super chair Christine McLoughlin said that her company looks forward to “welcoming TelstraSuper’s strong corporate employer relationships and specialised capabilities that will significantly accelerate our corporate super offering”.
The source: TelstraSuper and Aware Super joint statement
