Fund Company Update

Superhero and Swyftx to merge

Two Australia fintech companies are to merge: share trading and superannuation platform Superhero and digital currency exchange Swyftx. The merger is set to create a $1.5 billion digital asset and financial services company with over 800,000 customers. The companies will both continue to operate their separate platforms as plans are made to provide access for all customers. ASIC chair James Shipton joined the board of Superhero as a non-executive director after his departure from ASIC.

ETF Securities acquired by Mirae and Global X

Mirae Asset and Global X ETFs is to acquire ETF Securities Australia. The joined forces of the companies will improve resource sharing and offer Australian investors unique exchange-traded funds (ETFs) in several areas such as commodities and digital assets.

HESTA announces merger plans

Mercy Super and HESTA have signed a letter of intent to merge via a successor fund transfer, with 13,000 Mercy members to be transferred to HESTA.