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Hostplus surpasses $100bn in FUM
Hostplus has exceeded $100 billion in funds under management (FUM), underpinned by its numerous mergers and strong member growth.
According to David Elia, chief executive of the industry super fund, the new achievement represented the retirement savings of 1.7 million members, equating to 13 per cent of working Australians.
“As a truly national fund with an enviable investment track record over three, five, seven, 10, 15, and 20 years in our MySuper Balanced option, Hostplus is increasingly becoming the lifetime fund of choice for many Australians,” he added.
The recently published Super Insights 2023 report conducted by KPMG found that Hostplus’ net inflows increased by 7 per cent in 2022, despite the overall sector losing 0.5 per cent in FUM.
Elia recognised the fund’s successful mergers over three years as a key growth driver, which included its mergers with Club Super and Intrust. Its alliance with Statewide Super also broadened the representative industry base.
He continued: “We attribute this success to a combination of strong long-term investment returns driven by an active investment strategy, the loyalty and support of our long-term membership base, and the new members who, on a daily basis, choose us to manage their retirement futures.”
In December 2022, the fund progressed to the next stage of its merger with industry fund Maritime Super. The signed successor fund transfer (SFT) would allow Maritime to transfer its members and investments to Hostplus.
Looking to the future, the CEO said Hostplus’ focus would be on optimising investment performance, innovation, and cost efficiency to keep member administration fees low.
“We remain committed to continuing to deliver strong investment outcomes in our members’ best financial interest for the years ahead,” he said.
AUTHOR
Jasmine Siljic
Jasmine Siljic is a cadet journalist at Money Management and Super Review. Prior to joining MM and SR, she also worked across other Momentum Media brands as an intern. Jasmine previously completed an internship at Mamamia news. She is currently studying a Bachelor of Media and Communications at Macquarie University.
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