CEO Update, Autumn 2022

By Kate Farrar, Chief Executive Officer, LGIAsuper

Kate Farrar

16 March 2022

We are living in extraordinary times. I am pleased to report that LGIAsuper continues to demonstrate its resilience and strength during the current market volatility.

LGIAsuper has again achieved the highest-possible ratings from two of our industry’s independent research and rating companies, SuperRatings and Chant West1.

For the 14th year running, SuperRatings has awarded its Platinum rating to LGIAsuper’s Accumulation and Pension accounts.

Our default MySuper option was also awarded a Platinum rating, which it has done every year since we opened it in 2014. Most of our members are invested in the MySuper option, which achieved 15.01% returns in 2020/212.

Chant West has awarded ‘5 Apple’ rating to LGIAsuper, recognising us as a ‘Highest Quality Fund’. This rating is for our investment performance, member services, fees, insurance and organisational strength.

We are succeeding during this period of change by staying agile and responsive while focusing on long-term investment returns for our members. 

Acquisition of Suncorp’s super business

We are now only a few weeks away from our acquisition of Suncorp’s superannuation business, Suncorp Portfolio Services Limited (SPSL). It’s going to be another big step forward for the fund.

So, what will this mean for our members? Our increased size and scale can help us deliver better products and services, and lower fees and costs.

The upcoming acquisition will help us build on the success of last year’s merger with Energy Super. It will make us the ideal size for delivering long-term sustainable growth whilst remaining a boutique fund with a personalised service.

Lowering our fees and costs

On the topic of last year’s merger, we are already using our increased size and scale to reduce some of our fees and costs for members.

At the end of last year, we removed the weekly administration fee for all members. I’m now delighted to announce that on 30 March 2022, we will be reducing the investment fee and Indirect Cost Ratio for our MySuper option.

As our default investment option, the upcoming fee and cost reductions will benefit the majority of our members.

Further details of the reductions will be sent to members soon.

Welcome to Mark Rider

A warm welcome to Mark Rider, LGIAsuper’s new Chief Investment Officer.

Mark is a prominent economist and accomplished investment strategist. He brings decades of experience in financial services, having worked at the Reserve Bank of Australia and UBS, and as Chief Investment Officer at both ANZ Wealth & Private Banking and Christian Super.

Mark has an excellent track record of delivering performance through periods of business transformation. He is ideal to lead the fund’s renewed investment strategy following last year’s merger and upcoming acquisition.

You can read more about Mark in our recent news article.

Super Essentials for Women webinar

A topic close to my heart is women’s superannuation. LGIAsuper understands well the challenges that women face when growing their retirement savings.

My team and I are always here to help our female members with support, guidance and advice.

I enjoyed hosting our recent Super Essentials for Women webinar on 8 March 2022, which was International Women’s Day. We discussed the challenges that women face with superannuation, and what can be done to overcome them.

We had an excellent turnout to this online event, and it was good to welcome members from all over Queensland and interstate.

Our new mobile app

LGIAsuper has launched its first-ever mobile app. You can now view and update your super from the convenience of your phone.

Our new app is available on Apple and Google app stores, and we’ve been pleased to see how popular it has been with members already.

It’s secure, easy to use, and convenient. This is a great way to stay on top of your super, wherever you are.

The app is the latest addition to our growing range of online services. It’s a good example of how quickly our newly merged teams and systems have come together to deliver new and enhanced services for our members.

Download the LGIAsuper mobile app today

We’re here to help

LGIAsuper’s team of superannuation specialists and financial advisers are here to guide our members through this period of market volatility, change and growth.

If you have any questions or want to discuss your superannuation, please contact us on 1800 444 396.

 

  1. You should refer to respective research houses (and their disclaimers) to obtain further information about the meaning of the rating and the rating scale, at https://www.superratings.com.au/ratings-and-awards and https://www.chantwest.com.au/fund-ratings/super. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Ratings are current as at date of publications. LGIAsuper pays a fee to some research houses for rating our funds.
  2. Returns are net of investment fees and taxes, and net of the 0.18% administration fee. The $1 per account per week charge was not deducted from these returns. Past performance is not a reliable indicator of future performance.