avsuper annual reporting email

Your member number: {member number}

Dear {member},

As most members would be aware, a new strain of Coronavirus (COVID-19), has spread around the world, including to Australia, since being discovered in China in December 2019. The resulting pandemic has been impacting on global investment markets - alongside the impact of falling oil prices due to the dispute between Russia and Saudi Arabia.

It may look rather scary to see your savings decrease by factors outside your control, especially as no one knows how big the impact will be or for how long. However, we want to assure you that our investment team is monitoring the situation and will make adjustments if and when necessary - they are always prepared for periods of greater volatilty. Your super balance may decrease in the immediate and short term, but we believe our investment options will recover and are well placed to deliver longer term growth for our members.

The key message, however, is that market downturns are expected and are transitory. The long-term nature of superannuation means that most members should not need to do anything in response to the market changes we are currently seeing.

Overall, there's not a lot you can do except remember super is a long-term investment. Stay informed - talk to us if you need some help - and take a look at your investment choices.

Moving out of shares when markets drop effectively locks in the losses so waiting for the markets to swing back up is often the best strategy, despite generating fear in us all. Please speak with a qualified financial adviser before making changes to your investments - our Member Advice Consultants are available on 1300 128 751 to answer questions and book appointments for more detailed chats. We will speak with all concerned members, but due to the demand of current circumstances, we apologise if wait times are a bit longer than usual.

AvSuper response

The Trustee has a detailed pandemic response in place, as part of our Business Continuity Plan (BCP) arrangements to reduce the risk of the Fund not being able to operate at full capacity, including in a worst case scenario, and to ensure we can maintain ongoing member services. We gave details in our recent news item if you would like to know more about the steps we are taking. Our priorities are the safety of our staff and the community, and providing services to our members.

We fully expect to keep our core services running throughout the pandemic, including making investment decisions, paying members, and processing member requests.

As always, if you have any questions about your account or th impact of covid-19, please call 1300 128 751, catch us on AvChat or email us. For your safety and that of our staff, we are limiting visits to the office so please contact us before trying to visit us in person.

Regards,

Michelle Wade, AvSuper CEO

Michelle Wade
Chief Executive Officer

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AFSL No. 239078  | ABN 84 421 446 069 (Fund) | ABN 46 050 431 797 (Trustee)