AUSTRALIA - AustralianSuper has increased its assets under management by 20% (A$5bn) to A$25bn in the 8 months since its inception.
The fund, a merger between Superannuation Trust of Australia and Australian Retirement Fund on July 1 2006, said 60% its growth was achieved through increased investment returns, with the remainder made up of employer and member contributions.
Chief Executive Ian Silk said new employers joining the fund had shown significant growth with increases between 28% and 36% each month compared to the same month in the previous year.
“New members joining the fund has shown steady growth every month compared to the same month in the previous year. In addition member contributions to the fund have increased every month compared to the same month the year previous,” said Silk.
“In some instances the increase has been over 100%.”
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