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
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
