The two funds announced their decision to merge in January 2014 – a decision labelled as "odd" by Tria Investment Partners' Andrew Baker.
However, the merger was overshadowed by revelations about a travel expenses rort at HIP, which led to the removal of HIP chairman Anthony Wallace and chief executive Ross Bernays.
A total of four HIP directors left the merged entity.
The independent director Martin Day was appointed to Prime Super's board on 28 October 2014, and is the first appointee to represent the health and aged care industries, according to a statement by the fund.
Speaking to InvestorDaily, Prime Super chairman Alan Bowman said the fund would be looking to appoint up to three additional independent directors.
Following Mr Day's appointment, the board consists of four independent directors, one representative of the Australian Workers Union and an employer-nominated (ie, National Farmers Federation) director.
"Because of our structure we’re not subject to the 90-day rule for replacement. So we’re going to continue to look for suitable people and make appointments as and when we find suitable people," Mr Bowman said.
Asked about Prime Super's decision to have a majority of independent directors, Mr Bowman said the structure had been in place for "some time".
"We are aware of what the government is proposing [regarding the mandating of independent directors in super] so we believe we’re well positioned should those changes materialise," he said.
As for the travel expenses rort, Mr Bowman said it was "never really an issue" with members.
"I’m assured by our field staff that the merger has been seen as being very positive, and that’s started to be reflected in member feedback," he said.
