The $95 billion higher education and research industry fund has signalled growth ambitions, with plans to open its doors to new members from outside of its sector in July.
UniSuper, now the fifth-largest super fund in Australia, could be looking to add to its 450,000-odd members.
Significant disruption across both the higher education and superannuation sectors has motivated the fund’s growth intentions, UniSuper chief executive Kevin O'Sullivan reported.
In super, regulatory change and a wave of mergers are expected to change the industry in coming years.
“In this environment, scale is increasingly critical in delivering strong performance and competitive fees for the benefit of all members,” Mr O'Sullivan said.
“We have scale now and opening more broadly will enable UniSuper members to benefit from even greater scale.”
But the fund is “well-placed to navigate the changing environment and welcome new members”, he added.
UniSuper is marketing itself to new members as maintaining low fees, strong long-term performance and member service; alongside exposure to ESG strategies.
Part of the value proposition comes from it now managing 70 per cent of funds in-house, with Mr O'Sullivan reporting it has cut down on costs and gained performance benefits.
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Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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