POWERED BY MOMENTUM MEDIA
CSC super fund turns 100
The Commonwealth Superannuation Corporation (CSC) has passed 100 years this week, making it Australia’s oldest continuously-operating super fund.
The fund, which worked for Australian Government and Defence Force personnel was set up in 1922 and currently had $58 billion in funds under management.
In its first year, the fund was called the Superannuation Fund Management Board and had 26,876 customers and 299 pensioners, which later grew to over 488,000 customers and 245,000 pensioners today.
CSC chief executive, Damian Hill, said: “We’re thrilled to be announcing this exciting milestone because for us it is about celebrating the incredible men and women who have previously served and those who continue to serve our country through their roles in the Australian Public Service and the Australian Defence Force.
“In this centenary year we celebrate our proud heritage but also who we are today and who we want to be in the future, and we are very excited about our next chapter – a chapter that will be totally driven by the needs of our customers.”
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
The merger, first announced in December 2022, was due to be completed in mid-2024.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment