POWERED BY MOMENTUM MEDIA
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.
Recommended for you
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.78 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
30.80 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
28.31 3 y p.a(%)
