OAMPS Super Fund has been sold by Wesfarmers to Melbourne-based Equity Trustees for $10 million.

The fund has approximately $265 million of funds under management and it will now be managed by Equity Trustees’ EquitySuper business.

Equity Trustees MD Robin Burns says the fund has received positive ratings by many researchers, which made it an attractive acquisition.

“It’s apparent that a lot of effort and investment has been put into the OAMPS fund in the past few years and this has resulted in it receiving favourable ratings and the services to members improving significantly,” he said.