Super fund for the higher education and research sector, UniSuper has announced that its funds under advice have reached a record high of $13 billion.
The $80 billion superannuation fund said it attributed the growth to its unique advice model under which it employed 95 financial advisers and general advice consultants.
This allowed UniSuper to better support members during their transition into full retirement, it said.
Also, the growth was helped by record inflow levels from self-managed super funds (SMSFs), family take-up of UniSuper’s personal accounts offering and increased access to specialist services.
“Members at all life stages are truly seeing the real benefits of specialist and tailored advice, across both their super and non-super related investments,” UniSuper’s chief financial advice, Jack McCartney, said.
“We are thrilled that more and more members are seeing the value in advice. With service and individual outcomes at the forefront, profit-for-member models provide a unique offer that is resonating strongly in the current environment.”
In addition, the fund expanded its member centres across the country, with the most recent to be opened in the Adelaide North Terrace centre and further seven member centres to be opened at the fund’s offices around Australia.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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