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.
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|
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.
Executive Manager – Finance & Risk
Last Sunday, it was Mothers Day around Australia and many people celebrated at the Mothers Day Classic (MDC) in their local area.
This year is the 22nd year for the MDC, with over $35.3 million raised for breast cancer research. The aim of the Mother’s Day Classic is to deliver a fun, healthy and inspirational event that brings the community together on Mother’s Day to support and remember those touched by breast cancer.
The Canberra event this year was run by a committee that included AvSuper staff. AvSuper also sponsored the event and many staff either volunteered on the day and/or participated in the walk itself.
It’s not too late to donate and help wipe out breast cancer – donations can be made online until 30 June, 2019.
I am very pleased to introduce two new Directors for the AvSuper Trustee Board.
Stuart Brades and Stephen Merlicek are our newest Directors. The AvSuper Trustee Board consists of nine Directors, comprised equally of independent, member-nominated and employer-nominated representatives.
Stuart was nominated by the ACTU. He is an Air Traffic Controller in the Perth Tower and is Vice President Finance for the Civil Air Operations Officers Association of Australia. Stuart holds a number of qualifications including a Masters of Professional Accounting and a Bachelor of Science – Computing Science.
Stephen was appointed as an Independent Director following an open recruitment process. He is an experienced Director and finance executive and has held the position of Chief Investment Officer with both IOOF and Telstra Super. Stephen holds a Bachelor of Economic (Honours) and a Masters of Commerce.
On behalf of the AvSuper Trustee Board and staff, I welcome Stephen and Stuart, and and the knowledge and experience that they bring to the Board. We look forward to working with them on behalf of all of our members.