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
I am very pleased to introduce you to Catherine Mukungu.
Catherine joined AvSuper in May 2019 as Finance Officer and brings a strong work ethic and significant HR and Finance skills to the AvSuper team, along with a friendly manner.
Having migrated to Australia from Kenya to pursue tertiary studies in both Accounting and Human Resources in 2014, Catherine is a passionate team member who prides herself on achieving positive outcomes for members and the broader AvSuper team. She enjoys the gym and spending time with her family and friends outside of work.
We warmly welcome Catherine as part of the AvSuper team, and look forward to her contributions to your Fund.
Chief Executive Officer
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.