Australia’s Top Pension Fund Explores Merger

Australia’s top-performing pension fund is considering merging with a smaller peer as consolidation grips the nation’s retirement industry. Melbourne-based Host-Plus Pty, which manages about A$43 billion ($30 billion) of retirement savings from hospitality and tourism workers, signed an agreement with Club Super to formally begin due diligence on a merger, the funds said in an emailed statement Tuesday. It’s anticipated the transaction will be approved, bringing greater benefits to members, the statement said. It’s the second merger in Australia’s A$2.8 trillion...