Newsmakers
Three Australian Funds Merge to Create the Country’s Second-Largest Retirement Fund
Officials hope that the mergers will reduce management fees and increase retiree benefits.
The deal will create one of the most significant mergers of its kind, the plans say.
Charles Woodhouse will take over the Australian fund in September when chief Brad Holzberger retires.
Brad Holzberger helped create Australia’s first two-dimensional lifecycle fund during his near-decade stint as investment head.