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Telstra super cracks $10b
Telstra has confirmed its position as Australia’s largest corporate superannuation fund, reaching more than $10 billion in funds under management in late January.
Telstra Super chief executive attributed the growth to the fund’s focus on membership retention and achieving strong investment returns.
“Our unique low cost, full service offering has meant many of our members are choosing to stay with us when they leave Telstra,” he said. “Over 50 per cent of our members now fall into this category.”
McCredden also pointed to the fund’s investment returns, which he said had rewarded members on both a financial and calendar year basis.
“Our growth option ranked number one in the last financial year, while in the 12 months to the end of December we did even better, with six out of eight investment options ranked in the top five funds for their respective classes,” he said.
McCredden said Telstra had also reduced administration for three years in a row.
AUTHOR
Mike Taylor
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