POWERED BY MOMENTUM MEDIA
AMIST Super rebrands to reach broader membership
AMIST Super, the superannuation fund for employees of the meat industry, has rebranded to reach a broader membership base.
From 9 October, the fund will be known as Australian Food Super and be open to any member regardless of their employment.
Chief executive, Murray Rutherford, said: “We’ve become the leading super fund in the meat industry because we have worked hard to understand our members and we’ve learnt a lot about the challenges they face.
“Our work isn’t done, we believe there are more people in Australia that we can help. People in similar walks of life, with similar challenges. It’s time, therefore, to expand our focus to help people working in other food industries – in the same way we have done for the meat industry.
“As Australian Food Super, we will continue to support our members from the day they join, through to entire working life and into retirement with competitive products and solid investment returns.”
The fund has been around for 35 years and has around 60,000 members.
For the 2022–23 financial year, its MySuper Balanced option returned 11.3 per cent.
But its Shares Option (formerly High Growth) failed to meet the 2023 APRA annual performance test.
Earlier this year, AMG Super rebranded as Acclaim Wealth; its MySuper investment option had failed the performance test in 2023, 2022, and 2021. In 2023, it was the only one of 64 MySuper products to fail the test.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Small to medium funds have become collateral damage in an “imperfect” model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
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.
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(%)
