POWERED BY MOMENTUM MEDIA
Hostplus surpasses $100bn in FUM
Hostplus has exceeded $100 billion in funds under management (FUM), underpinned by its numerous mergers and strong member growth.
According to David Elia, chief executive of the industry super fund, the new achievement represented the retirement savings of 1.7 million members, equating to 13 per cent of working Australians.
“As a truly national fund with an enviable investment track record over three, five, seven, 10, 15, and 20 years in our MySuper Balanced option, Hostplus is increasingly becoming the lifetime fund of choice for many Australians,” he added.
The recently published Super Insights 2023 report conducted by KPMG found that Hostplus’ net inflows increased by 7 per cent in 2022, despite the overall sector losing 0.5 per cent in FUM.
Elia recognised the fund’s successful mergers over three years as a key growth driver, which included its mergers with Club Super and Intrust. Its alliance with Statewide Super also broadened the representative industry base.
He continued: “We attribute this success to a combination of strong long-term investment returns driven by an active investment strategy, the loyalty and support of our long-term membership base, and the new members who, on a daily basis, choose us to manage their retirement futures.”
In December 2022, the fund progressed to the next stage of its merger with industry fund Maritime Super. The signed successor fund transfer (SFT) would allow Maritime to transfer its members and investments to Hostplus.
Looking to the future, the CEO said Hostplus’ focus would be on optimising investment performance, innovation, and cost efficiency to keep member administration fees low.
“We remain committed to continuing to deliver strong investment outcomes in our members’ best financial interest for the years ahead,” he said.
AUTHOR
Jasmine Siljic
Jasmine Siljic is a journalist at Super Review. Prior to joining SR, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
96.54 3 y p.a(%)
2
DomaCom DFS Mortgage
85.26 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
