AvSuper News

AvSuper awarded ‘Member Select’ super fund for the third year in a row!

We are very excited and appreciative to have been recently announced as the Selecting Super MemberSelect Fund for the third year in a row!

AvSuper's 3 member choice awards and certificates

Your support and votes mean a lot to us and we thank you for your votes and your faith in us.

AvSuper MemberSelect 2019 Award

This award recognises the hard work, fantastic service towards our members and care consistently displayed by our Member Services Team, and the rest of the Trustee Team in helping them make it all happen – without them we would not be able to win awards like this!

Michelle
Michelle Wade, CEO

New member services team members!

I am very pleased to introduce our two newest Member Advice Consultants to our members.

Nathan Ham and Julie Peters have joined our member services team, with Nathan based in Brisbane and Julie in Canberra, and you may well have spoken to one or both already!

Nathan has worked across the super industry in a range of roles, allowing him to develop a breadth of strong technical knowledge that will benefit AvSuper members. Nathan specialises in retirement planning advice including establishing an income in retirement and understanding Centrelink entitlements. As well as an Advanced Diploma of Financial Planning, Nathan has accounting qualifications and is a registered Tax (Financial) Adviser. He is passionate about member outcomes and believes in finding simple solutions for members’ advice needs.

Julie has a Diploma of Financial Planning and over 20 years experience working with large retail and industry superannuation funds, advisers and dealer groups as well as financial service education providers. Julie has a strong technical background and is passionate about providing quality service to all members.

We warmly welcome Julie and Nathan to AvSuper and know they will provide an exemplary service to our members.

Michelle

Michelle Wade
Chief Executive Officer

AvSuper welcomes Geoff Burgess

I am pleased to introduce Mr Geoffrey Burgess who has joined the Board of AvSuper.

Geoff replaces Andrew Cooke who chose to step down after six years of service to AvSuper, having provided a valuable contribution in the areas of investment governance, risk management, audit and compliance. We wish Andrew well and know that his expertise will be welcomed as he undertakes new opportunities.

Geoff joins the Board as one of three Employer Nominated Directors. He is a qualified and experienced actuary with extensive experience in the superannuation industry and demonstrated a long history with representational bodies that serve the super industry and professional organisations.

He has recently been fulfilling the role of  investments officer at a corporate super fund and brings a knowledge of investment strategies, investment manager selection and the operating regulatory requirements applicable to super funds.  Geoff has demonstrated a strong and practical knowledge of the regulatory framework and prudential standards that are applied in the super industry and I am certain that his specific superannuation knowledge and his extensive governance experience will make him a great asset to AvSuper.

On behalf of the AvSuper Trustee Board and staff, I welcome Geoff and congratulate him on this appointment. I look forward to him joining this collegiate board and working together in the best interests of our members.

Ben

Ben Firkins
AvSuper Chair

Investment fees reduced!

I am delighted to inform our members that the investment fees for our investment options will reduce on 1 August 2019!

Investment fees from 1 August will be:

Option New fee Old fee
High Growth 0.78% 0.82%
Diversified Index 0.02% 0.02%
Growth 0.73% 0.77%
Balanced Growth 0.66% 0.69%
Stable Growth 0.58% 0.60%
Conservative Growth 0.47% 0.51%
Cash 0.05% 0.05%
Australian Shares 0.72% 0.72%
International Shares 0.75% 0.85%

For someone invested in the Growth option, this reduction equates to annual savings of about $103 for a $290,000 balance (the average account balance for AvSuper super members) or $213 for a $600,000 account balance (the average balance for an AvSuper income stream).

In accordance with our profit-for-member philosophy, we review our investment fees at least annually to ensure they remain competitive and represent a value for money to our members. By reviewing and managing our investment managers, including replacing some managers, we have been able to greatly reduce our investment costs so we can reduce fees for our members.

Happily, this year we’ve been able to reduce these fees as a result of our increasing scale and from negotiating improved pricing from some of our managers.

Nick

Nick Smith
Executive Manager – Finance & Risk

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