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(March-2003) Telstra to give daily unit prices
TelstraSuper is set to offer its members daily unitised pricing, possibly becoming the first corporate fund to do so.
The $6.5 billion fund expects to have its unitisation systems in place before the end of the current financial year so that members can receive unitised prices in their annual statements.
CEO Terry McCredden says the move will help the group’s 12 in-house financial planners and its “retail” members compare like with like when making comparisons with other funds. It will also enable the fund to report its results to accumulation members far faster than before.
Around 40 per cent of Telstra Super’s 73,000 members are no longer employed by Telstra. Many have moved on to new employers but have chosen to leave their money in Telstra Super because its costs are lower than retail funds.
AUTHOR
Zilla Efrat
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