Industry super fund Vision Super yesterday hit $10 billion in funds under management (FUM), doubling its size in the last five years.
The fund put the growth down to organic growth and strong returns, noting that its default balanced growth option had repeated the median over the last one, three, five and seven years.
Vision Super chief executive, Stephen Rowe, said that the fund was looking to continue its upward growth.
“We’re looking to grow significantly over the next few years - $10 billion is a nice milestone, but I’m hoping we hit some even bigger ones in the near future,” he said.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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