Fund Governance

First Super’s governing documents

• Trust Deed
• Amendment Deed No. 1
• Amendment Deed No. 2
• Amendment Deed No. 3

How are directors appointed and how can they be removed from office?

• Constitution
• Fit and Proper Policy
• Board Nominations Committee Charter

What skills do First Super Directors have? 

• Director Skills Matrix

How does First Super manage conflicts?

• Management of Conflict of Interest Policy

How does First Super support diversity?

• Diversity and Inclusion Policy
• Diversity and Inclusion Report

First Super’s Member Outcomes Assessment (summary)

• Annual Member Outcomes Assessment (for year ending 30 June 2024)
• Annual Member Outcomes Assessment (for year ending 30 June 2023)
• Annual Member Outcomes Assessment (for year ending 30 June 2022)
• Annual Member Outcomes Assessment (for year ending 30 June 2021)
• Annual Member Outcomes Assessment (for year ending 30 June 2020)

First Super’s Modern Slavery Statement

• Modern Slavery Statement (December 2024)

AIST Governance Code Report

• AIST Governance Code Report (2022/23)

Inquiries and Complaints Policy

• Inquiries and Complaints Policy

Retirement Income Covenant Strategy

• Retirement Income Covenant Strategy

Remuneration

Details of remuneration (including director fees and allowances) can be found within the 2023/24 Financial Statements (The Fund) document (pages 10-14).

• Fund Annual Financial Statements 2023/24

Training and professional development

Directors are required to undertake an induction process leading up to and following their appointment. Directors are also required to maintain their skills and competencies by participating in industry programs, seminars, conferences, relevant presentations at Board and committee meetings and other training and professional development activities.

Proxy Voting

For some of its share investments, First Super’s investment managers buy shares directly in companies allowing First Super to direct the manager to vote in certain ways on matters concerning those companies. In the case of shares in companies listed on the Australian Stock Exchange, First Super takes advice from the Australian Council of Superannuation Investors but will not usually support remuneration reports where the CEO increase is above the relevant increase in Australian Weekly Ordinary Times Earnings index calculated by the Australian Bureau of Statistics.

In other cases, First Super’s investment in companies is in a fund with other investors. This type of investment does not allow First Super to direct the investment manager to vote on company resolutions in any particular way.

How First Super directs investment managers to vote is detailed in the First Super ESG and Voting Policy, which also details how First Super has exercised its voting rights in relation shares in listed companies.