Taste of free­dom

Prof­its in this fast-grow­ing fund are re­turned to mem­bers through im­proved prod­ucts and ser­vices

Money Magazine Australia - - INVESTING SUPERANNUATION -

Money mag­a­zine’s Best Su­per Fund Man­ager for 2019, Sun­su­per, con­tin­ues to be a leader in the su­per­an­nu­a­tion mar­ket with a sharp fo­cus on de­vel­op­ing in­no­va­tive ways to en­gage with cus­tomers while main­tain­ing a clear com­mit­ment to de­liv­er­ing strong re­turns and max­imis­ing mem­bers’ re­tire­ment sav­ings.

Sun­su­per cur­rently has $58 bil­lion in as­sets un­der man­age­ment for more than 1.3 mil­lion mem­bers. “This year has been an­other one of strong growth for Sun­su­per,” says Sun­su­per CEO Scott Hart­ley. “We con­tinue to be the fastest grow­ing profit-for-mem­bers fund in Aus­tralia and one of the na­tion’s largest, which al­lows us to de­liver in­dus­try-lead­ing prod­ucts and ser­vices for our mem­bers.”

Sun­su­per has a strong fo­cus on im­prov­ing the mem­ber ex­pe­ri­ence and mak­ing it eas­ier for them to in­ter­act with the fund across all chan­nels.

“Ev­ery in­ter­ac­tion we have with our mem­bers is driven by our de­sire to help them achieve fi­nan­cial free­dom and live the re­tire­ment of their dreams,” says Hart­ley. “As a profit-for-mem­bers fund, we re­turn all our prof­its to mem­bers through en­hanced prod­ucts and ser­vices. One real and sig­nif­i­cant ex­am­ple of this was con­tin­u­ing a huge pro­gram of dig­i­tal trans­for­ma­tion this year, which al­lowed us to make sub­stan­tial im­prove­ments to the cus­tomer ex­pe­ri­ence.

“We have also con­tin­ued to evolve our Dream Pro­ject, which is our dig­i­tal ed­u­ca­tion hub pro­vid­ing mem­bers with in­ter­ac­tive con­tent that is rel­e­vant and valu­able. Ad­di­tion­ally, our Dream Re­wards pro­gram, which gives mem­bers ac­cess to of­fers and dis­counts on hol­i­days, ex­pe­ri­ences and ev­ery­day items, also con­tin­ues to grow as we help our mem­bers not only max­imise their fu­ture sav­ings but also save money for to­day.”

The Sun­su­per for Life prod­uct has an ex­ten­sive in­vest­ment menu of 20 diver­si­fied and sin­gle as­set class op­tions (as at Au­gust 31, 2018). The bal­anced op­tion has out­per­formed the Su­perRat­ings SR50 Bal­anced In­dex over the short and long term; as at Au­gust 31 the bal­anced op­tion had re­turned 7%pa over 10 years for its su­per­an­nu­a­tion mem­bers, com­pared with an in­dus­try me­dian of 6.6%.

Ad­min­is­tra­tion fees for the bal­anced op­tion are lower than the in­dus­try me­dian across a range of ac­count bal­ances. Sun­su­per’s fixed-dol­lar mem­ber fee of $78pa is in line with the me­dian, while the in­vest­ment-re­lated fees and costs for its bal­anced op­tion are 0.87%pa (in­clud­ing per­for­mance fees). No es­tab­lish­ment, con­tri­bu­tion or in­vest­ment switch­ing fees are ap­pli­ca­ble, although there is an exit fee. KIRBY RAP­PELL, CEO, SU­PERRAT­INGS

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