Vanguard is expected to enter the superannuation market by the end of the year after being granted a registrable superannuation entity licence by the Australian Prudential Regulation Authority (APRA).
APRA announced it licensed Vanguard Super Pty Ltd as a public offer registrable superannuation entity licensee on August 25 2022.
Having first announced its intention to launch a super fund over a year ago, a Vanguard spokesperson said the group was excited to get its APRA licence.
“There is more to be done before we publicly launch Vanguard Super, however we are on track to open our superannuation offer to the public by the end of the year,” they said.
“Harnessing the wider Vanguard group’s global investment expertise and more than 25 years’ experience serving Australians, we believe we have created a fund that will keep super simple, transparent, and effective for our future members,” they added. “We are looking forward to sharing more details very soon.”
The $170 billion fund has announced an internal promotion to the newly created role.
Blue Owl Capital, a US asset manager with its eye on ‘marquee investors’ like super funds, has announced the appointment of a senior Future Fund executive as its newest managing director.
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The Association of Superannuation Funds of Australia has tapped an experienced public policy executive as head of policy and advocacy.
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