Mercy Super and HESTA have signed a letter of intent to merge via successor fund transfer. We are working towards completing the merger before the end of the year, subject to the completion of a range of conditions including a due diligence process by both funds.
Why the decision to merge?
You, our members, are at the heart of everything we do. This next step is no different. The decision to explore a merger with HESTA is about securing your financial future and continuing to provide a strong and sustainable future for our members.
Mercy Super has a long and proud 60-year history of supporting our members from Mater’s South Brisbane hospital campus. We’ve always put the interest of our members first and believe it is now time for our members to benefit from being part of a larger fund.
We conducted analysis of relevant funds matching our criteria for scale and delivery of improved member outcomes. From this analysis, we chose to enter into exclusive discussions with HESTA due to its strong track record of performance, future sustainability, and deep links to the health sector.
Why explore a merger with HESTA?
Same friendly service
While some things may change with this merger, our plan is to keep many of our key differences that are valued by our members. This includes:
The plan is for your investment options to be matched to the most suitable HESTA options and the administration fees and costs will be the same that applies to HESTA members.
Full details of how this will work will become clearer as both parties work through the implementation plan. We’ll keep you informed and provide plenty of notice if changes may affect your account.
There is nothing you need to do.
While we’re in the due diligence phase exploring the benefits of a merger with HESTA, nothing changes with your Mercy Super account and there is nothing you need to do. It is business as usual for Mercy Super members.
1. Source: SuperRatings SR50 (60-76) Index at superratings.com.au. Past performance is not indicative of future performance.