It is a true privilege to be able to serve you as the new Chair of Equipsuper. Since joining the board in 2019 my respect for the great standing of the fund has grown and deepened.
We know that for many of our employers and members these are challenging times. When faced with obstacles, it is important that funds like ours not only continue their focus on service, but also to continue to adapt and change, especially when that change is for the better.
- It is also at times like this when the benefits of our joint venture between Equip and Catholic Super (CSF) matter all the more as the funds’ vision for growth, efficiency and value, result in benefits of this partnership beginning to flow to members.
- The joint venture enabled the aligning of the investments of Catholic Super and Equip, creating immediate savings by leveraging a larger investment pool, instituting a single executive team and a range of administrative efficiencies.
- This has meant immediate savings have absorbed the costs of merging the funds’ investments and administration.
- The efficiencies help to ensure that Equip’s investment fees can be maintained as amongst the lowest in the sector.
- This scale means Equip members are now accessing higher returning assets without investment fee increases.
- Into the future, we believe these efficiencies will keep downwards pressure on fees, enhanced products and lower insurance costs.
We are confident that these changes, combined with our strong long-term investment performance, will ultimately result in better retirement outcomes and balances for members and even better delivery and service for our valued employer partners – a goal that has been driving our strategy of growth and improvement. As Chair, I will ensure that we never lose focus on our commitment to and connection with you.
We are conscious of the funds’ deep heritage – Equip is one of the oldest super funds in Australia, serving its community since 1931 – while we acknowledge the benefits of adaption and change where it is for the better.
Any change will be consistent with the vision, practices and principles which have driven our growth and service delivery. We will ensure growth does not weaken our connection with employers and members.
You will also see more of our commitment to our world and our climate, with the funds committing to net zero carbon emissions.
Finally, I want to acknowledge the work, dedication and vision of my predecessor as Chair, Andrew Fairley. For the past 12 years Andrew has been a great crusader for members’ interests, a proponent of skilled, professional, representative boards and a leader who recognised the need for change, growth and partnerships. We thank Andrew – our funds and the entire industry owes him a great debt.
I also want to express my appreciation for the contribution of Michael Clinch, a board member for Equip for the past five years whose term ended at the end of the 2020/21 financial year, and for the work of three long-serving CSF board members, Deb James, Peter Haysey and Carolyn Harkin who have also completed their terms.
And I would like to welcome our incoming board members Sharife Rahmani (Employer Director) and Mathew Cassin (Member Director).
To you, our valued employers, we appreciate that you have entrusted us with ensuring the financial future of your employees. We will always act in our members’ best interests in times ahead.