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
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
