Industry superannuation fund BUSSQ has now reached $5 billion of funds under management (FUM), now making it a medium-sized, specialist super fund.
Linda Vickers, BUSSQ’s chief executive officer, said their growth was a result a successful investment strategy, and increased customer support which included a 30 second online joining process.
“This positive milestone was achieved in a turbulent environment that saw consolidation and legislative pressure significantly impact the superannuation industry,” Vickers said.
Simon Mather, BUSSQ’s acting chief investment officer said their Balanced Growth option scheme achieved a return of 9.71 per cent per annum from their inception in 1985 to June 2019 month end.
“BUSSQ’s uses its size to its advantage, looking to invest in opportunities that generate solid returns for our members which are typically too small for large funds,” Mather said.