Sydney, Nov 16, 2005 (ABN Newswire) - Select Managed Funds (ASX: SEM) announced an agreement to purchase Merrill Lynch (Superannuation and Pension Fund) Limited ("MLS&P") from Merrill Lynch Investment Mangagers Limited on or about the 29th of November, 2005.

The fund has approximately 5,000 members with AUD$.2 Billion of invested funds and will be transfered into the company's superannuation master trust "Spectrum Super", growing the fund to greater than 100,000 members and AUD$1.9 Billion in invested funds.

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