BUSSQ hits $5b FUM
Industry superannuation fund BUSSQ has now reached $5 billion of funds under management (FUM), now making it a medium-sized, specialist super fund.
Linda Vickers, BUSSQ’s chief executive officer, said their growth was a result a successful investment strategy, and increased customer support which included a 30 second online joining process.
“This positive milestone was achieved in a turbulent environment that saw consolidation and legislative pressure significantly impact the superannuation industry,” Vickers said.
Simon Mather, BUSSQ’s acting chief investment officer said their Balanced Growth option scheme achieved a return of 9.71 per cent per annum from their inception in 1985 to June 2019 month end.
“BUSSQ’s uses its size to its advantage, looking to invest in opportunities that generate solid returns for our members which are typically too small for large funds,” Mather said.
Recommended for you
Ethical super fund Australian Ethical has announced the appointment of Anthony Lane as chief operating officer.
The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.
ASIC has warned that practices across the $200 billion private credit market are inconsistent and, in some cases, require serious improvement.
A surge in electricity prices has driven the monthly Consumer Price Index to its highest level in a year, exceeding forecasts.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
