Australian Retirement Trust Expands with Woolworths and Endeavour Group Fund Transfer

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BRISBANE – Australian Retirement Trust (ART), one of the country’s largest superannuation funds, has significantly expanded its assets and membership base following a successful successor fund transfer (SFT) with retail giants Woolworths Group and Endeavour Group.

This pivotal development underscores ART’s formidable growth strategy and solidifies its expanding footprint in the Australian superannuation domain.

According to an official statement released by ART on August 22, the SFT has bolstered the fund’s assets under administration to over A$260 billion ($168.9 billion) and its membership to more than 2.3 million superannuation members. The transfer from Woolworths Group and Endeavour Group has added A$4.3 billion in assets and introduced 25,000 new members to ART.

“The Woolworths and Endeavour transition comes during a strong growth period for ART, which includes the launch of a new brand Australia-wide,” Dave Woodall, ART’s Chief Commercial Officer, emphasised.

Building on these achievements, ART recently completed a substantial transfer of A$8 billion in superannuation benefits from Australia Post. Furthermore, the fund is in the advanced stages of merging with three prominent superannuation funds: Commonwealth Bank Group Super, AvSuper, and AlcoaSuper.

These strategic amalgamations, expected to be finalised by the conclusion of the current financial year in June, are poised to infuse an additional A$16.3 billion into ART’s burgeoning pool of funds under management.

ART itself was formed through the merger of Sunsuper and QSuper in early 2022, and it has since experienced remarkable growth, adding A$40 billion in assets to its portfolio. Woodall expects another A$40 billion of inflows by June 30, 2024.

“It’s exciting to see how our new name and brand is creating momentum and attracting both members and employers,” Woodall said.

While specific details of the fund transfer were not disclosed, ART’s expansion underscores its commitment to providing a secure and prosperous future for its ever-expanding membership base.

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