Fund Company Update

FairVine super for women shutters

A superannuation fund set up specifically for women has closed its doors after three years. FairVine Super, a sub-plan of Aracon Super, launched in May 2019. The offering had rewards for making certain purchases through certain brands via the member portal, had a round-up feature to increase superannuation savings, and froze account fees during parental leave. The fund has had several name changes, from first being Human Super, then BeSuper, and finally FairVine Super.

The fund has been closed by Equity Trustees, the fund’s responsible entity, due to the fund being unsustainable, as it failed to scale. The fund has just 197 members and $7.6 million in funds under management.

Pendal and Perpetual in talks again

After rejecting an acquisition offer by Perpetual in April 2022, Pendal is back at the table for more talks regarding a ‘potential transaction’. Perpetual’s April offer was to acquire 100 per cent of Pendal shares for an indicative $6.23 per share, however the Pendal board said this was under value and not a good deal for shareholders.