I was exceptionally proud that Hostplus delivered number-one ranked returns for members in our Balanced option in 2022.[1]
We were one of only a few funds that returned a positive result for our MySuper Balanced option over the 12 months to 30 June, beating all other balanced options surveyed according to SuperRatings.[2] Plus, over the long term, our Balanced option is ranked by SuperRatings in this survey as the number one MySuper option over 10, 15 and 20 years, using the most recent available data.[1] These outstanding results mean more money in our members’ accounts for their retirement.
We were also awarded the 2023 SuperRatings’ Fund of the Year.[3] SuperRatings judge the award across three key categories: strong investment performance, competitive fees, and an ongoing focus on member services. It was great recognition for our ongoing commitment to improving the retirement outcomes for our 1.6 million members.
In April, we transitioned 140,000 members, 24,000 employers and $11 billion in funds under management into our fund from South-Australian-based Statewide Super. This has cemented our position as a truly national, multi-sector industry fund, and one of Australia’s ten largest super funds by funds under management. Our growth plans also include a merger with Maritime Super in 2023.
New products and initiatives for Hostplus members
We also delivered some great products and services last year. We launched three new investment options in March, expanded the direct investment options within our Choiceplus platform to include more climate-themed ETFs, announced our commitment to net zero carbon emissions by 2050, and redesigned our website.
And we now offer greater flexibility with our financial advice services. Through our dedicated Hostplus Advice 1300 number (1300 303 188), a friendly and professional Advice Support Officer can get a member general superannuation information faster. That’s because they’re now licensed to provide general advice, at no additional cost.
For members who need personal advice about planning for retirement from one of our comprehensive financial planners, our flexible pricing structure, which starts at $295, gives you more control. You decide the level of advice you want, and pay for it as you go. Of course, if you’re looking for personal advice about contributions, investments and insurance relating to just your Hostplus account, these services are still included as part of your membership fee.
Continuing to provide support to your industry
It’s been great to see some buoyancy return to the hospitality and tourism sector after an extremely tough few years. 2022 has also presented its challenges, notably staff shortages and the related impact on long-serving team members.
Nonetheless, it’s evident that confidence is returning to the industry. We’ve seen strong contributions and new members joining through hospitality and tourism employers into Hostplus.
We’re also continuing to experience significant new member joins through our personal division. Overall, we welcomed more than 220,000 new members over the last financial year– that’s outside mergers. This brought our total membership to 1.6 million. It’s a great indication that our core sectors of hospitality and tourism are faring well.
Looking ahead to 2023
Our upcoming merger with Maritime Super will be a big focus for us this year. Plus, we’ll continue to focus on uplifting our digital member services such as our mobile app, website and member portal.
It goes without saying that our number one objective is to continue delivering the best possible investment returns to our members. We aim to do this while keeping our admin fee low. This is our core focus and we’ve proven we can deliver on it. That’s a plus.
This article was written by David Elia - Chief Executive Officer, Hostplus
[1] Source: SuperRatings Accumulation Fund Crediting Rate Survey – SR50 Balanced (60–76) Index, November 2022
[2] Source: SuperRatings Accumulation Fund Crediting Rate Survey – SR50 Balanced (60–76) Index, June 2022.
[3] Visit lonsec.com.au/logo-disclosure for the full SuperRatings disclosure. Go to lonsec.com.au/super-fund/ratings-and-awards/ for rating and award criteria.
Issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 trustee for Hostplus Superannuation Fund, ABN 68 657 495 890. General advice only. Consider the relevant Hostplus PDS and TMD at hostplus.com.au and your objectives, financial situation and needs, which have not been accounted for. Awards and ratings are only one factor to consider. Past performance is not a reliable indicator of future performance. Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514 to facilitate the provision of personal financial advice to members of Hostplus. Advice is provided by financial planners who are Authorised Representatives of IFS. Fees may apply for Comprehensive Financial Advice, further information about the cost of comprehensive advice
