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Media

 Whether you’re a member of the media or simply want to stay informed, this page provides all the latest media releases from Statewide Super.

For media enquiries, please contact Verity Edwards of Hughes PR on 0412 678 942.

  • Hostplus and Statewide Super to formally explore merger

    Published: 28/06/2021

    Hostplus and Statewide Super have today announced that the two funds have commenced formal discussions as the first stage in working towards a potential merger.

    The funds intend to shortly sign an exclusive Heads of Agreement that supports the funds commencing a reciprocal due diligence process to determine if a merger is in the best interests of their respective members.

    With its origins in the hospitality, tourism, recreation and sports sectors, Hostplus continues to evolve and grow as the lifetime fund of choice for Australians and employers from a broad range of backgrounds and industries. Today, Hostplus is one of the largest and best-performed super funds in Australia, with over 1.25 million members, 233,000 contributing employers and $66 billion funds under management.

    The South Australian based Statewide Super has more than 142,000 members, 24,000 employers and manages over $10.8 billion in funds. Statewide Super is one of the top-performing funds in Australia over the long term, and one of only three funds nationally to have a 5-Star Rating with CANSTAR for both their Account Based Pension and MySuper products.

    A successful merger between the two leading profit-for-member Industry superannuation funds would create a significantly broader, multi-sector, national fund with over 1.4 million members, 258,000 contributing employers and more than $77 billion in funds under management.

    Statewide Super’s CEO, Tony D’Alessandro said today’s announcement followed a period of extensive consideration by Statewide Super as to the longer-term strategic benefits to be realised for its members in exploring a merger with another prominent and well-performed fund.

    “After undertaking an extensive and robust process we identified Hostplus as our preferred merger partner,” said Mr. D’Alessandro.

    “The engagement and discussions between the funds to date have been most encouraging and I’m very optimistic that the common ground, strengths and synergies we’ve already identified suggest that pursuing a merger of our funds will realise and deliver significant benefits for both funds’ members,” he added.

    “This includes ensuring Statewide Super retains its unwavering commitment to South Australia and the Northern Territory, where we will continue to provide our excellent local member services, including the Statewide Super Hub in Victoria Square and the office in Darwin, and preserve local jobs.

    “We will be assessing this merger against its ability to deliver greater value and enhanced products and services for our members."

    Hostplus’ CEO, David Elia, said “we are delighted that Statewide Super’s board has identified Hostplus as its preferred merger partner. Our early discussions have highlighted a fundamentally strong alignment between our two funds, from our similar industry fund ethos and beliefs, to our dedication and passion for our members, which provides an excellent foundation for establishing a successful merger.”

    “We are genuinely excited about the prospect of a strong, positive and collegiate union of our funds. We are confident that our collective members, contributing employers and associated communities would strongly endorse our merger and immediately benefit from the resulting economies of scale,” said Mr Elia.

    Once having signed the Heads of Agreement, the two funds expect to commence the detailed due diligence phase over the coming months ahead of executing a Successor Fund Transfer Deed should both funds’ trustee boards consider a merger as being in the best interests of both funds’ members.

    Media enquiries:
    Hostplus - David.mcnamara@bastionrm.com.au, 0455 144 464
    Statewide Super – nkinnear@statewide.com.au, 0405 390 678

     

  • Con Michalakis named CIO of the Year

    Statewide Super Chief Investment Officer, Con Michalakis was named CIO of the Year at the 2019 Conexus Financial Superannuation Awards in Sydney last night.

    In the only category to be awarded to an individual, Michalakis eclipsed CIO peers from a field of finalists that included Host Plus, MLC and WA Super.

    “The Conexus Financial Superannuation Awards are arguably the most highly sought after in our sector and it’s an honour to receive this accolade”.

    Michalakis has been consistently recognised as being amongst the best investment strategists in the industry over many years.
    “I am fortunate in that every day, I go to work alongside our incredibly switched on investments team and external asset experts. We’re all there with the same purpose and drive, which is to maximise our members returns for their future” said Michalakis.

    Statewide Super CEO Tony D’Alessandro, says that much of the fund’s growth has come down to Michalakis’s approach of getting the basics right. “Michalakis and his Investments team have delivered strong results for our members by positioning the portfolio to be resilient and providing excellent returns, irrespective of market volatility.”

    Michalakis says success as a CIO comes down to three things: getting the investment governance structure right, putting the right people into that structure and developing a sound set of investment beliefs.

    “Today, with those important things in place, our continuing focus is on increasing the resilience of the portfolio”

    Statewide Super has experienced exceptional investment returns with nine (out of ten) investment options delivering top quartile results nationally and their MySuper product delivering an average return of 8.77% per cent per annum, over the five year period to January 2019.*

    Con Michalakis was appointed as Chief Investment Officer at Statewide Super in August 2008 and had been a finalist in the Awards for three years running.


    *Based on hard-close unit prices at 31 January 2019 according to SuperRatings Fund Crediting Survey January 2019 SR50 MySuper Index.
    Investment returns can go up and down and are not guaranteed. All investments have risk, and past performance is not a reliable indicator of future performance.