Close Search
 
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  General

Not for Profit Super Funds Outperform


14 January 2014 at 9:58 am
Staff Reporter
The Australian Institute of Superannuation Trustees - AIST - says the latest statistics on the performance of Australian superannuation funds shows Not for Profit funds are the clear standout.

Staff Reporter | 14 January 2014 at 9:58 am


0 Comments


 Print
Not for Profit Super Funds Outperform
14 January 2014 at 9:58 am

The Australian Institute of Superannuation Trustees – AIST – says the latest statistics on the performance of Australian superannuation funds shows Not for Profit funds are the clear standout.

“The statistics show that of the 50 funds with top 10-year fund-level rates of return, all but two are corporate, industry and public sector funds,” Executive Manager of Policy and Research David Haynes said.

“This shows the significant strength of the Not for Profit superannuation industry.”

AIST is the peak industry body for the $600 billion Not for Profit super sector which includes industry, corporate and public sector funds covering the super interests of nearly two-thirds of the Australian workforce.

The Superannuation Fund-level Rates of Return (June 2013) showed that public sector funds were the strongest rate of return for members over the 10-year period at 7 per cent, followed by industry funds at 6.7 per cent, corporate funds at 6.5 per cent and retail funds at 4.9 per cent.

“The statistics show the nature of the Not for Profit sector – a better retirement outcome for Australians,” Hayne said.

“All but six of the 50 funds with top five-year fund level rates of return are also either corporate, industry or public sector funds.

“Looking at a fund’s performance over the longer term allows members to account for investment volatility and the statistics show that Not for Profit funds are outperforming their retail counterparts.”

The APRA Annual Superannuation Bulletin also showed an increase in the number of women serving on superannuation boards from 16 per cent in 2006 to 22 per cent in 2013.

“The Not for Profit sector has been working hard to increase the number of women serving on super boards, but we acknowledge there is still a long way to go,” Executive Manager of Governance Eva Scheerlinck said.

“Gender equity on super boards has been a target for our members since 2011 and we will continue to advocate strongly for greater diversity.

“We actively encourage women in the super industry through programs such as Super Springboard – a program that provides participants with technical knowledge, skills training, a dedicated mentoring program and networking opportunities,” she said. 


Staff Reporter  |  Journalist  |  @ProBonoNews


PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers? Get in touch at news@probonoaustralia.com.au or download our contributor guidelines.

Advertisement

2021 Impact 25 nominations now open!


Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

A tale of two polls: So what is the real difference?

Maggie Coggan

Thursday, 12th November 2020 at 8:37 am

Meet Pro Bono News’ first editorial advisory board

Wendy Williams

Thursday, 16th April 2020 at 8:02 am

Unpaid Carers Facing Significant Economic Disadvantage

Luke Michael

Tuesday, 21st August 2018 at 3:45 pm

NFPs Driving WA Economy, Report Says

Wendy Williams

Wednesday, 15th February 2017 at 4:20 pm

pba inverse logo
Subscribe Twitter Facebook
×