Betashares to enter Australian superannuation industry
Over the past 12+ years, Betashares’ leading range of ETFs have helped Australian investors progress their financial goals by democratising investing, expanding choice and lowering costs.
Today, Betashares Group announced it has reached an agreement to acquire Bendigo and Adelaide Bank’s superannuation business as part of plans to expand beyond the provision of ETFs.
The Australian superannuation system is the fourth largest pension market globally with over $3.5 trillion dollars in assets, forecast to grow to over $9 trillion by 2041.
The acquisition is a transformational step that will complement Betashares’ existing ETF business as part of an expansion into the broader financial services sector.
As part of the acquisition strategy, Betashares intends to use its investment scale, experience and operational and risk management capabilities to grow its presence in superannuation and deliver strong member outcomes.
The planned acquisition of Bendigo Superannuation from Bendigo and Adelaide Bank is subject to regulatory approvals and is expected to be completed in 2024.