POWERED BY MOMENTUM MEDIA
UniSuper officially opens to all
UniSuper has surpassed the $100 billion in funds under management (FUM) milestone as it opens to members outside the higher education sector on Monday.
Kevin O’Sullivan, UniSuper chief executive, said: “Today is a momentous occasion for the fund. Hitting $100 billion in FUM, including over $12 billion in our sustainable options, as we open our doors to all Australians, marks a significant milestone for UniSuper.
“The continued growth and popularity of our three sustainable investment strategies along with the exceptional investment returns of almost 50% from our unique Global Environmental Opportunities option have contributed to the fund hitting this key milestone.
“There has been a tremendous amount of work in the build-up to today, and we’re thrilled to finally bring our award-winning range of services and investments to a wider audience, while continuing to offer the same excellent service our existing members have come to expect.”
O’Sullivan said since announcing it would open to a wider market in early May, the response from existing members was positive.
“This is a real testament to our member focus, consistent strong performance and low fees,” O’Sullivan said.
“This powerful combination, and our growing scale, will be even more important as regulatory change and industry consolidation continue to reshape the super sector.
“It’s been a real honour to lead this wonderful organisation over the last eight years and I’m very proud of the many successes achieved.
“Opening the fund more broadly signifies an exciting new chapter for UniSuper, and this is just the beginning.”
Recommended for you
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.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
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(%)
