POWERED BY MOMENTUM MEDIA
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.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
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
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
Well done, Industry Super. You have created a market were you will get smashed.