Teachers & nurses’ super fund tops league table
5-star rating for outstanding super fund value: David O’Sullivan, Catholic Super CEO, receives the top award from Tom Slee, Canstar National Client Manager, Wealth & Health
Catholic Super – the $9.6 billion industry fund growing retirement savings for many teachers and hospital workers – has topped a league table, returning a high 10.49 per cent over seven years for members up to 50 years old with a balance of $100,000-250,000.
That’s the finding from Canstar, Australia’s biggest financial comparison site. Canstar crunched the numbers for the best performing super funds on its database for annual investment returns over seven years, three years and one year to 31 December 2018.
Anna Shelley, Catholic Super’s Chief Investment Officer, explained how her investment team’s strategy had paid off over a seven-year period by delivering on behalf of members’ best interests.
“We’re mindful that superannuation is a long-term proposition,” she said. “Catholic Super’s younger members – those aged up to and in their 40s – have an aggressive asset allocation with the potential to pay off with more time in the market as there’s greater scope to grow their savings.
“Catholic Super’s investment approach follows through – serving members at the other end of the age spectrum as well. For members aged 50 years and older we change our market-based settings. By that life stage our goal is to continue to grow members’ capital but increase the focus on preservation, by putting their funds in our more balanced investment option.
“Catholic organisations are one of our country’s largest employer groups. About 220,000 people care for and educate millions of Australians every day. On a personal note I’m very proud to be managing funds on behalf of teachers and nurses – mainly women – who deserve sufficient funds for a dignified and comfortable retirement.”
A 75,000 strong member-owned fund, Catholic Super is also open to all Australians. For nearly 50 years the fund has helped members grow their lifetime savings through its financial planning, insurance, retirement, aged care planning and pension services. Competitive loans and savings accounts are also available at preferential rates for members through the fund’s 100 per cent member-owned bank – branded MyLifeMyFinance. Catholic Super is the only super fund that has 100% ownership in a banking institution.