Equip has launched a brand refresh, operating now as Equip Super, a move the fund said will consolidate its offering to members and position it for further growth.
Namely, its “new chapter” includes a new logo, a refreshed website, lower fees and improved investment options.
Equip has also strived for fee equalisation across the fund, with a reduction in administration fees for most members.
According to the fund’s announcement on Wednesday, consolidating memberships, operations, and investments under the Equip Super brand marks the unification of Equip and Catholic Super into one “member-focused” fund.
Commenting on the transition, Equip chief executive officer Scott Cameron said: “These changes will drive more efficiencies in our fund to deliver strongly for members – through reduced fees from a more streamlined fund and a better, tailored member experience.”
Specifically, Equip said it has improved member investment options by consolidating them into one menu, including a new, low-cost Index Diversified investment option.
The new website also offers new tools, modules, calculators, and educational content tailored to different phases of super and retirement journeys.
Equip, which has more than 140,000 members and $30 billion in funds under management (FUM), confirmed its growth target of managing $50 billion for 300,000 members.
However, Mr Cameron clarified that while there are benefits to scale, Equip is not pursuing “growth for growth’s sake”.
“We aspire to be a different type of fund – one that’s big enough to matter, but small enough to care – always valuing our connection and commitment to our members, employers, and the communities in which they live and work.”
“With our new brand platform, we are doubling down on our member service experience. Our goal is to equip our members with knowledge and confidence, through both one-to-one interactions with financial planners and a brand-new suite of online educational tools,” Mr Cameron continued.
Equip added the rebrand is part of its “One Fund” project, which aims to consolidate its funds and offer a more consistent service experience across the board.
This included the closing of four brands – MyLife MySuper, MyLife MyPension, Transport Industry Super (TIS), and MyLife MyAdvice – of which its members will transition into Catholic Super.
According to the fund, the overarching “Togethr Trustees”, established following Equip’s 2019 partnership with Catholic Super that had seen the two funds create a shared trustee, will keep its name, while its logo retires.
“The greatest beneficiaries of these changes will be our members,” Mr Cameron concluded.
