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Hostplus exceeds $100bn in FUM

3 minute read

The Australian super fund has surpassed $100 billion in funds under management.

Hostplus has surpassed $100 billion in funds under management (FUM), driven by a combination of mergers and strong member growth in its personal division.

“This incredible figure of $100 billion represents the retirement savings of 1.7 million members — or approximately 13 per cent of working Australians — who place their trust in Hostplus to manage their retirement futures,” said chief executive officer David Elia.

According to a recent KPMG Super Insights 2023 report, Hostplus’ net inflows in 2022 expanded by 7 per cent in an environment where the overall sector lost 0.5 per cent in FUM.

“We attribute this success to a combination of strong long-term investment returns driven by an active investment strategy, the loyalty and support of our long-term membership base, and the new members who, on a daily basis, choose us to manage their retirement futures,” said Mr Elia.

The fund also attributed its success to three mergers over three years, and another on the way.

Mr Elia pointed out that Hostplus’ mergers with Club Super and Intrust solidified the fund’s membership in Queensland while the Statewide Super alliance broadened the representative industry base and positioned the fund as a major player within the central corridor of Australia.

The fund is said to have leveraged its scale to invest in innovative products, technology, member education, and services.

Moving forward, Mr Elia said the fund’s focus on optimising investment performance, innovation, and cost efficiency has allowed it to deliver strong returns to its members while keeping its member administration fees low.

“We remain committed to continuing to deliver strong investment outcomes in our members’ best financial interest for the years ahead.”

In December, the fund announced it had signed a Successor Fund Transfer (SFT) deed with Maritime Super to formalise the progression of a merger.

Commenting on the milestone at the time, Mr Elia said, “This represents Hostplus’ commitment to creating a broad-based, national fund of greater size and scale, supporting an increasing number of Australians who have entrusted us with their retirement savings. Maritime Super’s heritage and strong ties with the maritime industry will add to the diversity of the membership and evolution of the merged fund”.

The SFT is expected to take place in September 2023.

Hostplus now boasts 1.7 million members, more than 290,000 contributing employers and $100 billion in funds under management.

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic

Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.