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NZX has today completed the acquisition of the management rights of the ASB Superannuation Master Trust, confirming settlement of the transaction within the timeframe announced on 11 November 2021.
The acquisition (through NZX’s wholly owned subsidiary, Smartshares Limited) represents a step-change in scale for NZX’s passive funds management business and is aligned with NZX Group’s strategy to capture complementary opportunities across its Funds Management, Wealth Technologies and Markets businesses.
The acquisition, which adds more than $1.8 billion in retirement savings from more than 17,500 members across more than 100 employer groups, is being funded from cash on hand and new debt facilities.
As noted in the announcement of the proposed transaction, the financial impact will be included in NZX’s FY2022 operating earnings guidance to be released alongside the FY2021 financial results on 17 February.
