Equity Trustees has announced it has been appointed as the trustee for the HUB24 Super Fund, which is a part of HUB24’s investment and superannuation platform and currently has $7.9 billion in funds under administration (FUA).
The announcement followed Equity Trustees’ appointment to AMP Life’s superannuation funds on 1 July 2020, and several other appointments made last financial year, including by AIA to oversee the CMLA superannuation funds, the firm said.
“The superannuation industry is increasingly recognising and valuing the role of an independent trustee in ensuring a robust, secure superannuation system and protecting member interests,” Equity Trustees’ managing director, Mick O’Brien, said.
“We have focused on building the technical and professional capability, with a number of new professionals joining the team in recent months, to ensure we are the preferred independent trustee for Australian institutions, and the investment is paying off.
“HUB24’s market share has been growing over recent years due to their continued focus on innovation and customer service excellence. The appointment to act as trustee for the HUB24 Super Fund is another great addition to our rapidly growing superannuation trustee business.”
The appointed trustee would be HTFS Nominees Limited, one of Equity Trustee’s two superannuation entities - the other being Equity Trustees Superannuation Limited, the firm said.