Mercer Super welcomes BT Super members to create $63b* fund 

Australia, 3 April 2023

Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, today announced the completed merger of BT Super into the Mercer Super Trust, creating one of Australia’s most competitive super funds. Mercer today also announced the completed acquisition of Advance Asset Management Limited, further expanding its capability as a leading investment multi-manager in Australia. 

The Mercer Super Trust is now one of the 15 largest funds in Australia with approximately 850,000 members and $63bn* total assets under management.

Many members of the merged Mercer Super Trust benefit from meaningful fee reductions, while all members will have access to expanded investment choice and an enhanced member experience. Members will also have access to additional benefits and support services including Care & Living with Mercer and complimentary limited financial advice as it relates to their superannuation.

David Bryant, CEO Marsh McLennan Pacific and President Mercer Pacific, said the merger will transform the superannuation sector for the ultimate benefit of Australians.

“We promised members that we would deliver them a market-leading offering in terms of benefits, performance and pricing and, today, we’re delivering on that promise,” Mr Bryant said.

“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals around the world, Mercer Super members will benefit from being part of one of the most competitive super funds in Australia, and this is only the beginning.”

Tim Barber, CEO, Mercer Super reinforced the fund’s commitment to growth and highlighted the importance of global investment in delivering competitive member outcomes.

“The merger of BT Super into the Mercer Super Trust provides the platform for Mercer Super to keep diversifying and growing our offering for members, while maintaining a continued commitment to fund performance and some of the lowest fees in the market,” Mr Barber said.

“Mercer Super is one of the few established Australian funds with direct access to significant scale and expertise globally. This merger highlights the value of having both local and global scale, and how that powerful combination can be leveraged locally to deliver innovation and enhanced benefits for our members,” he added.

BT Super Trustee Chair, Gai McGrath concluded, “Mercer has been helping Australians with their retirement for more than 25 years and is well placed to support BT Super members and participating employers. This merger has created a larger superannuation fund with the potential to deliver improved performance, lower fees, and broader member services, while maintaining continuity of knowledge and service for BT Super members”.

^{*Based on assets under management data as at 31 December 2022 for BT Super and Mercer Super, shown on a combined basis.}