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
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
