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Vanguard Super commits to 2022 launch
Vanguard has committed to launching its Super product by the end of the year.
Speaking at the AFR Super & Wealth Summit in Sydney, the firm said the super product was still going ahead.
It had first been announced three years ago, a board of directors was appointed in April 2021 and the product was expected to launch last year. This was later delayed until this year.
Daniel Shrimski, managing director of Vanguard Australia, said the firm had previously stated it would launch in 2022 and that this was still on track.
“We are going to be low cost and be very competitive. It is an offering that will differentiate itself on more than fees and it will launch in 2022.
“We haven’t launched yet but we are very close. Innovation has been lacking [in super] and we need more of it.”
Vanguard Super was licensed as a public offer registrable superannuation entity licensee by the Australian Prudential Regulation Authority (APRA), under the Superannuation Industry (Supervision) Act in August 2022.
The wider Vanguard group had $11.3 trillion in assets under management globally.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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Well done, Industry Super. You have created a market were you will get smashed.