As part of a strategy to engage members, Australia's largest industry superannuation fund AustralianSuper has created a new unit that offers specialised education for members.
"It's a dedicated unit in the fund that is not just about giving out information on financial advice, but about providing investor education," AustralianSuper chief executive Ian Silk said.
In November, Hilary Spear was appointed to the new position of head of investor education in the investment department.
Jodie Lennox has since been employed in the unit as senior writer in investor education.
"We believe that it is very important to have strong and consistent information for members about investments and their risks. We plan to funnel this through all the fund's information channels," Spear said.
Silk said the creation of the unit was an example of AustralianSuper having the resources to do things it was unable to do as a smaller fund.
"This is a classic case where a larger fund has the resources. As a smaller fund we couldn't do some of these things but it's such an important area," he said.
AustralianSuper was formed in 2006 from the merger of the Australian Retirement Fund and the Superannuation Trust of Australia.
The fund currently has more than 1.4 million members and over $28 billion in funds under management.
