POWERED BY MOMENTUM MEDIA
REI Super goes public offer
Real estate industry superannuation fund, REI Super has moved to go public offer.
The fund announced today that it would become public offer from 1 July, opening it up to people not directly employed in the real estate industry.
Confirming the move today, REI Super chief executive, Mal Smith said the change would open up membership of the fund to anyone, but particularly to existing members' spouses and family members, self-employed people in the industry, and those working closely with the industry, like valuers, conveyancers, marketers, and tradespeople.
"REI Super grew out of the real estate industry, and we are the only industry fund specifically for the sector," he said.
"We've grown with the industry and we are in step with its needs. We know it's a different industry to what it was when we started."
Smith said growth in self-employment within the industry and in sectors associated with real estate meant that not everyone was attached to a participating employer any more.
"We also want to ensure that existing members who wish their spouse or other family members to join their fund can do so," he said.
Recommended for you
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
Australia’s second-largest super fund is prioritising impact investing with a $2 billion commitment, targeting assets that deliver a combination of financial, social, and environmental outcomes.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
