The Motor Trades Association of Australia Superannuation Fund (MTAA) appears to have reaped the benefits of at least two years at the top of performance league tables with new members having driven up the level of its funds under management.
MTAA principal executive officer and fund secretary, Michael Delaney announced this week that the fund had exceeded $3 billion in funds under management a year ahead of forecasts after enjoying a growth rate in the past year of 37 per cent.
“We are very satisfied with the fund’s growth this year, especially in our personal division which has attracted many new members not necessarily from the motor trades who are particularly taken by the fund’s progressive and innovative alternative investment allocation program and strategies,” Delaney said.
“Reaching $3 billion in funds under management is also important in that it will afford us the opportunity to further our program of cost reductions through increased scale and developing and delivering a broader range of products and services for our members,” he said.
Delaney said that with the superannuation industry currently in a consolidation phase as a result of choice of fund and prudential licensing scale had become critical to success.
The MTAA Super Fund has been rated as being among the top five performing funds for most of the past five years.
