Industry super fund Vision Super yesterday hit $10 billion in funds under management (FUM), doubling its size in the last five years.
The fund put the growth down to organic growth and strong returns, noting that its default balanced growth option had repeated the median over the last one, three, five and seven years.
Vision Super chief executive, Stephen Rowe, said that the fund was looking to continue its upward growth.
“We’re looking to grow significantly over the next few years - $10 billion is a nice milestone, but I’m hoping we hit some even bigger ones in the near future,” he said.
Treasurer Jim Chalmers delivered the Albanese government’s third federal budget on Tuesday evening, 14 May, touting a balanced approach in an environment of cross currents.
The financial services software company announced it detected unauthorised access of its GitHub user space over the weekend.
Increased regulatory reform and competitive pressures have meant most corporate funds are struggling to meet the scale required to survive, an industry professional says.
The final draft of the $3 million super tax legislation remains unchanged and will include the taxing of unrealised gains and no indexation.
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