POWERED BY MOMENTUM MEDIA
Telstra Super opens to friends of members
Telstra Super has opened its fund to friends of members as demand for the fund has increased in recent years.
Speaking to Money Management, executive general manager, market and digital, Jean-Luc Ambrosi, said while the fund had always technically been a public offering, it was only available to Telstra employees and their families.
However, over recent years there had been feedback from members who wanted the fund to open to their friends as well.
“We think it will allow a few people to come into the fund but nothing spectacular,” Ambrosi said.
“It’s really early days so we don’t know how many people will join the fund initially. We’ll know in a few months if the demand we had translates to members.”
He said the offering to friends was changed on 1 March.
Recommended for you
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
