AMP SMSF has acquired the SMSF administration business of Queensland-based administration and superannuation software developer, Supercorp Pty Ltd, effective immediately.

AMP SMSF will wholly acquire Supercorp’s daily and annual administration business under the YourSMSF brand, which has 1,200 accounts, and take a 19.4 per cent stake in Supercorp’s software solution Supermate.

AMP SMSF Managing Director Paul Sainsbury said the acquisition reflected AMP SMSF’s focus on growth and the customer experience.

“Building scale and efficiency in our SMSF administration systems and processes is a priority for us as it will mean a better overall experience for our customers.

“SMSFs are the fastest growing superannuation segment and the addition of a further 1,200 accounts through our acquisition of YourSMSF positions us well for further growth and cements our leading position in the SMSF administration market.

“Technology is a key enabler in this market so we are also pleased to be investing in Supercorp’s software solution, Supermate, and we look forward to working closely with them on future technology developments,” Mr Sainsbury said.

Kurt Groeneveld, the founder and CEO of Supercorp said: “AMP has quickly established itself as a leader in the self-managed superannuation industry and through its different SMSF businesses has had the opportunity to use a number of major SMSF administration technology options. We are therefore delighted that they have chosen to become a significant shareholder in Supercorp’s Supermate technology.”

AMP is in the process of contacting Supercorp’s YourSMSF customers about the acquisition and both AMP and Supercorp are working on bringing the respective SMSF administration operations together with a focus on ensuring customers are not disrupted by the change.

AMP’s Multiport SMSF administration business has been a long term client of Supercorp’s technology solutions and uses the Supermate software as part of its administration platform.