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AustSafe initiates administrator review
Industry fund AustSafe Super has initiated a process to find a new administrator.
The fund, which boasts $1.6 billion in funds and more than 140,000 members, has retained Deloitte to undertake the tender process.
AustSafe has previously utilised Superpartners as its administrator.
Superpartners was sold to the Link Group, the parent company of Australian Administration Services, with the transaction being completed in mid-December.
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Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
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