First Super wins Money Magazine award
November 29th, 2018
First Super is celebrating after being named a Gold Winner in Money Magazine’s Best of the Best 2019 awards.
The national industry super fund for the furniture and joinery, pulp and paper, and timber sectors won the Best Capital Stable Super Fund category for its Conservative Balanced option. In addition, the Fund scored second place in the Best Balanced Super Fund category for its Growth option.
The judges said: “Strong investment performance and low fees have propelled First Super’s Conservative Balanced fund into the winning spot this year.”
In addition to highlighting the option’s risk-averse approach, the judges also mentioned how First Super spreads assets across 26 fund managers, from large international investment houses to Australian managers.
First Super CEO Bill Watson said that the award underlined that small funds have the capacity to deliver strong returns, outperforming large funds.
“First Super’s asset allocation combined with canny manager selection provides our members in all investment options with consistently strong returns,” he said.
“You don’t have to be a member of a large superannuation fund to get consistent strong returns,” he added.
First Super’s Conservative Balanced option was also recognised recently as a “Fit Cat” fund in Stockspot’s annual super funds guide, the Fat Cat Funds Report 2018.
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Phil Davey – Mountain Media
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Notes to editors:
- The figures used by Money Magazine have been taken from SuperRatings and returns and fees to 31 August 2018. Fees and other features may have changed since these dates.
- First Super is the industry super fund for more than 64,000 workers in the timber, pulp and paper, furniture and joinery industries, with over $3 billion under management. Industry super funds have lower than average fees, no commissions, and are run only to benefit members.
- Details of First Super’s crediting rates are available from https://www.firstsuper.com.au/investments/investment-returns-crediting-rates/