POWERED BY MOMENTUM MEDIA
VicSuper implements transparent approach to annual reports
VicSuper has announced underlying asset growth of 11.7 per cent to $21.2 billion for the last financial year, in an annual report that aligned with the International Integrated Reporting (IR) Framework.
The fund increased membership by more than 2,000 members for the year, which its chief executive, Michael Dundon, flagged as significant in a superannuation market where many funds are shrinking due to consolidation.
The report also reinforced the fund’s commitment to responsible investment. The IR Framework ideally would promote transparency for members, with VicSuper saying its implementation reflected its wider corporate responsibility agenda.
“We have made a number of enhancements to our reporting this year, such as incorporating a performance scorecard, providing more insight into fund governance and strategy and focusing on how we provide members with great experiences throughout their saving and retirement journey. This all helps demonstrate the value we provide for our members and realise the benefits that Integrated Thinking provides,” the fund’s corporate responsibility manager, Kim Farrant, said.
This came in the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, which highlighted transparency as a major issue facing the sector.
Recommended for you
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
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(%)
