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PAS holds high growth aspirations
Professional Associations Super has grown 36 per cent over the past two years to reach $1.7 billion last month, making it one of the fastest growing industry funds.
Chief executive Megan Bolton attributed the growth to a minimisation of investment fees combined with strong investment returns, which she said had been a primary focus.
“It’s not just about gaining new members, but ensuring our members are making the active choice to stay with us. Retention and consolidation results indicate that members are responding positively to fund improvements and are rewarding us with their loyalty,” she said.
Bolton said the fund had worked with eo Financial Services to implement changes like redesigning the website, overhauling member communication and investing in research to understand member preferences.
A strong employment market also helped boost the fund, particularly through its RecruitmentSuper division, which services recruitment agency staff, and Accountants Super.
The goal is to achieve $3 billion in funds under management by 2012, with consolidation an option, rather than simply organic growth.
AUTHOR
Ashleigh McIntyre
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