Australia’s second-largest super fund Australian Retirement Trust has successfully absorbed the $2.5 billion and 4800 members of AvSuper. 

Both funds signed a memorandum of understanding last February to commence a due diligence period, aiming to complete the merger in the following 12 months. 

The merger marked ART’s 4th successor fund transfer (SFTs) this financial year, following that with Woolworths, Commonwealth Bank and Alcoa.  

ART aims to achieve $500 billion in funds under management by 2030.