Queensland-based Sunsuper has signalled that it intends to maintain its aggressive approach towards growing its corporate superannuation offering, predicting that it will reach $1.5 billion by the end of the financial year.
The prediction came as Sunsuper announced it was beefing up its presence in the southern states with the appointment of a Victorian business manager, Diana Hale, who would be based in Melbourne.
Sunsuper manager, member and employer services, Ralph Collins said Sunsuper’s corporate superannuation offering had grown by 123 per cent in 2005 to reach $1 billion in assets.
“It is further expected to reach $1.5 billion by the end of this financial year,” he said.
Collins said Hale, who has previously worked at Rice Walker Actuaries and Plum Financial, would be integral to growing the business.
Following the roundtable, the Treasurer said the government plans to review the superannuation performance test, stressing that the review does not signal its abolition.
The Australian Prudential Regulation Authority (APRA) has placed superannuation front and centre in its 2025-26 corporate plan, signalling a period of intensified scrutiny over fund expenditure, governance and member outcomes.
Australian Retirement Trust (ART) has become a substantial shareholder in Tabcorp, taking a stake of just over 5 per cent in the gaming and wagering company.
AustralianSuper CEO Paul Schroder has said the fund will stay globally diversified but could tip more money into Australia if governments speed up decisions and provide clearer, long-term settings – warning any mandated local investment quota would be “a disaster”.