When it comes to a merger of two superannuation funds worth billions of dollars in assets, Outsider would recommend it always pays to do your forward planning and due diligence.
However, there is no amount of due diligence that can control the weather unfortunately.
For QSuper and Sunsuper, its merger, which had been two years in the making, took place on the same weekend as the Brisbane floods.
With buildings flooded, staff unable to reach the office and children kept off school to run wild during Zoom meetings, it made for a difficult time to announce a merger between the two Queensland-based funds.
Not only that, the weekend also brought with it the start of the Russia-Ukraine war, causing chaos in stockmarkets and leaving members wondering whether the downturn in performance was due to the war or an unfortunate side-effect of this new fund merger.
