POWERED BY MOMENTUM MEDIA
QSuper to be open super fund in June
All Queenslanders will be able to be a member of QSuper from 30 June, 2017 after the legislation to lift the member requirement restriction was passed by the State Parliament today.
The superannuation fund said it was now focused on working with regulators to secure appropriate licencing to become an open fund.
Currently the fund is only open to current and former Queensland public sector employees or their spouses.
QSuper chief executive, Michael Pennisi, said the fund was focused on helping their members reach their financial goals now and into retirement.
"This is an exciting time for the fund and its members. We have long had members' family and friends keen to access our strong long-term returns as well as personalised solutions and low fees — and soon we will be available to them," he said.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
