Telstra Super has opened its fund to friends of members as demand for the fund has increased in recent years.
Speaking to Money Management, executive general manager, market and digital, Jean-Luc Ambrosi, said while the fund had always technically been a public offering, it was only available to Telstra employees and their families.
However, over recent years there had been feedback from members who wanted the fund to open to their friends as well.
“We think it will allow a few people to come into the fund but nothing spectacular,” Ambrosi said.
“It’s really early days so we don’t know how many people will join the fund initially. We’ll know in a few months if the demand we had translates to members.”
He said the offering to friends was changed on 1 March.
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.
Add new comment