AvSuper News

AvSuper and the financial situation in Greece

Some of our members have contacted us this week to understand the impact and likely future impact of the “Greek situation” on their AvSuper investment.     

Greece’s financial and economic difficulties have prevailed for some years now. However, recent events have been making news and causing concern for some investors.

AvSuper has very little direct exposure to Greek investments, but it is clear that there has been some impact on Australian and international investment markets more generally. Our Investment Committee has been positioning our assets conservatively and will continue to monitor events closely.

We have prepared a factsheet outlining the current situation in Greece and hope that information assists AvSuper members in understanding the situation as it stands. 

Michelle

Michelle Wade
CEO

Investment update

 

 

Enjoy our new look website!

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We are very pleased to show off our updated website!

 While most of the information is the same, you will find our site now

  • has colour coded sections to help you  find the relevant information
  • is completely responsive (that means you can view it on your computer, tablet, phone or other mobile device)
  • has simpler menus
  • includes more forms you can complete online
  • is easier to print from

Most of our URLs  (webpage addresses) have changed so please update any links you have saved into your browser. Note that Member Online has not changed and can still be accessed from your bookmarks or any page of our site.

If you have any feedback on our new site or need help finding something, please call or email us, or catch us on AvChat.

AvSuper introduces a new investment option

On 1 July 2015, AvSuper is adding a new pre-mixed investment option called the Balanced Growth option to the range of member investment choice options available to those members who wish to exercise member investment choice*.

Introducing Balanced Growth

Balanced Growth asset allocationThe Balanced Growth option will comprise of investment exposure to 65% growth assets and 35% defensive assets. It is designed for members who want a reasonable exposure to growth assets balanced by a slightly lower weighting to defensive assets, with slightly lower expected investment risk than the default Growth (MySuper) investment option.  The Trustee considers that the new Balanced Growth investment option will best suit members approaching retirement who are looking to modestly reduce investment risk for their retirement savings, while continuing to obtain some exposure to growth assets.

The new investment option commences from 1 July 2015 and more detailed information will be available on our website from that time.

The right investment option for you will depend on your retirement needs, risk comfort and age. You can change your investment options by completing our Nominate /change investment options form, or you can change your investment options yourself via Member Online. Remember you do not have to make a choice, and if you don’t choose, your super will be automatically invested in AvSuper’s default investment options (being the Growth (MySuper) option for accumulation members).

Want to know more?

Please contact us with your questions or make an appointment with an AvSuper Member Advice Consultant if you would like to discuss your investment choice arrangements.

 AvSuper's Member Advice Solution

* Investment choice does not apply to defined benefit accounts.

New default arrangement for Income Streams

Effective from 1 July 2015, AvSuper is introducing a new default investment arrangement for new retirees joining the income stream division of the Fund.  The new arrangements replicate the investment choice advice most commonly given to AvSuper retirees when establishing an income stream.

New Income Stream defaults

Under the new arrangements the default investment option for new income stream members who do not make investment choice, will be to allocate their retirement savings to a blend of the new Balanced Growth investment option (77%) and the Cash investment option (23%), with regular income stream payments to be drawn from the Cash investment option.  This will provide AvSuper retirees with an overall asset allocation of approximately 50:50 exposure to growth and defensive asset classes, which the Trustee considers to be an appropriate and prudent default arrangement for retired members who do not exercise their own investment choice, or do not seek personal financial advice when establishing an income stream in retirement.

The Trustee recognises that most AvSuper retirees face issues that those still working do not face, including longevity risk, uncertain financial requirements and less tolerance of investment market volatility affecting their retirement savings.  Ensuring that at least 20% of retirement savings into the Cash investment option to fund regular income stream payments also ensures maximum protection for AvSuper members against the risk of being required to capitalise losses in other asset classes if required to make withdrawals during investment downturns.  Members can vary these arrangements by exercising member investment choice to better suit their needs if required at any time.

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These changes only affect new members who join the AvSuper income stream division on or after 1 July 2015 who do not exercise member investment choice, or don’t seek financial advice when establishing their income stream account.

Want to know more?

Please contact us with your questions or make an appointment with an AvSuper Member Advice Consultant if you would like to discuss your investment choices and/or retirement plans.

 

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