The PRWIRE Press Releases https:// 2020-07-26T13:05:46Z Equip & Catholic Super beat coronavirus downturn 2020-07-26T13:05:46Z equip-amp-catholic-super-beat-coronavirus-downturn Equip and Catholic Super have defied the worst market downturn since the Global Financial Crisis, delivering positive returns to members invested in the joint trustee’s flagship balanced options. In a financial year end that saw COVID-19 market jitters push most super funds into negative territory, Equip’s Balanced Growth option captured a 1.7 per cent return and Catholic Super’s Balanced option +0.52 per cent. Both funds’ returns are above 8 per cent annually over 10 years – proving once again that long term gets the returns. Anna Shelley, Chief Investment Officer, said that the funds deployed a number of strategies to protect members’ retirement savings as COVID-19 disrupted financial markets. “Global markets fell significantly and very quickly as the coronavirus pandemic hit back in March. Despite the initial panic, markets have significantly rebounded since then,” she said. “As markets bottomed through March, the funds bought $1 billion of equities and, after markets had recovered substantially, $1 billion of equities was steadily ‘sold off’. Many small, conservative actions were implemented to protect and add to our members’ retirement savings. “Put another way, while markets are still a bit lower than their record February highs, they’re back to late 2019 numbers. “Equip and Catholic Super’s investment team is closely watching the markets and resetting strategies as conditions change during the pandemic, positioning members’ retirement savings for long-term growth as markets and economies reset and recover for life after the crisis. “Both funds are known for their track record of delivering for members, particularly in tough times, so we are very pleased to achieve these results, supporting our members’ retirement outcomes. Our long term results show that investments require time in the market. The key is consistently strong results over many years.” Scott Cameron, Equip and Catholic Super Chief Executive Officer, said managing both risk and opportunities to grow members’ wealth is essential, particularly at a time when consumers are seeking to chase returns. “Both funds have a long-term growth plan to deliver competitive fees and performance. The results for the 12 months to June and a longer 10 year period show that the funds are growing members’ retirement savings during both difficult and more optimistic times,” he said.  Equip and Catholic Super joined forces in 2019, successfully forming a $26 billion joint venture that is managing funds for 150,000 members with an aspiration to be a much larger entity by 2025.  An Extended Public Offer (EPO) model brings both funds economies of scale in administration and investments, without loss of brand identity or control of relationships with members, employers and other stakeholders. $26 billion superannuation joint venture takes off, poised for growth 2019-10-22T23:01:00Z 26bn-joint-venture-takes-off-poised-for-growth Two top-10, profit-to-member superannuation funds today successfully joined forces, paving the way for other funds to join. Governed by a new, skills-based board of 12 directors, Equip and Catholic Super’s $26 billion venture will manage funds for 150,000 members with an aspiration to be a much larger entity by 2025. Andrew Fairley, Chairman, said the unique tie-up sets the scene for further industry consolidation. “This is a new dawn and a new era for super mergers as we scale up to benefit members under an extended public offer (EPO) licence,” he said. “At a time when funds are being urged to merge, Equip and Catholic Super have a rare opportunity to be one of the industry’s great growth stories. We’re open for business with an APRA-approved licence, attractive to funds that are keen to drive down costs while maintaining their distinctive brands and member engagement that they’ve always been known for. “While other funds are talking about merging, Equip and Catholic Super are ‘getting on with it’. The EPO licence was issued three years ago. The Catholic Super Board has had the courage to embrace the model, breaking new ground while being agile, innovative and aware of the reform backdrop that is shaping the future of our super industry.” Danny Casey, Deputy Chair (former Catholic Super Chair), noted the new model’s member benefits. He encouraged other funds to follow suit and consolidate under a ground-breaking house-of-brands model that grows funds under management. “As trustees we have a firm obligation to act in our members best interests. With the industry being challenged to consolidate further, funds that are seeking to ensure they can deliver sustainable member outcomes are encouraged to be part of this new and innovative approach. We’ve studied this model and unlocked the potential to join forces and maintain our super fund’s heritage. Those who join can retain their distinct identity that attracted members to their fund of choice in the first place. For example, our Catholic Super members, who care for and educate millions of Australians every day, will retain their high-performing brand and exceptional service from their award-winning, in-house service centre.” Further bolstering both funds’ strong history of exceptional performance, consistently ranking in top-10* superannuation fund league tables, a new chief executive was announced in August to head both funds. Scott Cameron has extensive experience leading integrated operations and bringing diverse businesses together. More recently, Anna Shelley was confirmed as the inaugural Chief Investment Officer for both funds, managing assets and investments under the $26 billion joint venture model. -- ENDS -- *Source: SuperRatings (SR) Fund Crediting Survey, 15-year investing period – Balanced Index, August 2019. SR factors in both performance and risk factors. Both funds have exceeded the industry benchmark (average) for performance over this longitudinal period of time, demonstrating sound investing strategies and policies. About the Extended Public Offer model The Extended Public Offer (EPO) model enables participating funds to achieve economies of scale in administration and investments, without loss of brand identity or control of relationships with members, employers and other stakeholders. It does not affect the status of participating funds as the nominated default fund for their employer network. In short, it values the assurance members and employers obtain from continuity with their fund and its brand, while delivering benefits by consolidating the behind-the-scenes trustee, administration and investment operations that benefit most from scale. Under the model funds will share a single trustee which will be led by a new, merged skills-based trustee board. Equip Super has been granted a license for this EPO by APRA. About Equip Equip is a profit-to-member fund managing over $15 billion of assets for over 72,000 members around Australia. The fund has enabled members to look forward with confidence to a more financially secure retirement since 1931. Equip is highly regarded as a provider of corporate superannuation services by leading Australian companies across multiple industry sectors, especially those looking for proven performance and experience in both defined benefit and accumulation plans. The fund is multi-sector, servicing employers and members from the energy, resources, water, infrastructure, manufacturing, health, legal and services sectors. It was founded as the staff fund of the State Electricity Commission of Victoria but broadened its coverage beyond the energy sector from the late 1990s. Visit https://www.equipsuper.com.au/mediacentre for more media releases from Equip. About Catholic Super An award-winning, profit-to-member superannuation fund, Catholic Super at 10 October 2019 managed almost $10 billion for 75,000 members and 11,000 employers working in the education and health care sectors. Catholic organisations are one of the country’s largest employer groups who care for and educate millions of Australians every day. Since 1971 Catholic Super has helped members - many of whom are hard-working teachers, nurses and aged care people - grow their lifetime savings through its financial planning, insurance, retirement, aged care planning and pension services. Banking services are provided through MyLife MyFinance, a bank 100% owned by the Catholic Super fund. Catholic Super’s ‘Balanced’ (MySuper) option has delivered members an average investment return that has exceeded 10% per annum over 48 years since its inception in 1971. Catholic Super was recently ranked by Australia’s leading financial comparison website, Canstar, as one of the six top super funds across a broad range of consumer groups for its combination of investment returns, insurance options and access to advice and information. Roy Morgan’s latest 2019 six-month snapshot shows that Catholic Super members have rated their fund as one of the best in the country for satisfaction with financial performance. Visit csf.com.au/news for more Catholic Super media releases   $26 billion joint venture names chief investment officer 2019-08-22T03:31:22Z 26-billion-joint-venture-appoints-chief-investment-officer Anna Shelley, Chief Investment Officer, Equip Super and Catholic Super Progress towards the ground-breaking joint venture between Equip Super and Catholic Super is continuing with the appointment of Anna Shelley as Chief Investment Officer for both funds.  Ms Shelley’s appointment follows last week’s announcement that Mr Scott Cameron, the former Chief Executive of Computershare in Australia and New Zealand, would head both funds and be CEO of the joint venture when it begins operating in October. The opportunity to appoint a CIO for both funds was brought forward following the resignation of Equip’s current CIO, Troy Rieck last week. Equip Super and Catholic Super are joining forces to create one of Australia’s largest profit-for-member superannuation funds. Ms Shelley is currently CIO of Catholic Super. Equip Super Chairman Andrew Fairley AM, welcomed Ms Shelley’s appointment as another significant step towards a successful joint venture. “This CIO appointment is an opportunity to align the two funds from an investment perspective and strongly position us for further growth,” Mr Fairley said. “It brings greater business continuity and enhances our capacity to continue to deliver for members, with scope for additional expansion.” Mr Fairley also expressed his appreciation to outgoing Equip CIO Troy Rieck for his contribution to the fund. Peter Haysey, Acting Chair of Catholic Super, said: “I’m delighted that Anna Shelley has been appointed as the joint CIO of both Catholic Super and Equip Super. Anna is an experienced leader with an extensive investment management and business strategy background and has been impressive during her time at Catholic Super. “Both investment teams have begun working extensively to bring together the two existing investment portfolios. We look forward to Anna leading the teams through the joint venture operating model as we prepare for a full merger”. Ms Shelley said she was looking forward to bringing both teams together, with a common vision and strategy to assist the joint venture. “Both Equip Super and Catholic Super are high-performing industry leaders,” Ms Shelley said. “By aligning our strategies and portfolios we will deliver the best outcomes for our superannuation members.” Ms Shelley was appointed CIO of the $10 billion Catholic Super fund in April 2018. She has held several senior positions across the financial services sector. Before joining Catholic Super, she was General Manager, Product and Strategy at Perpetual, an Australian investment manager with assets totaling $30 billion. Prior to Perpetual, she was head of investment product at MLC Investment Management, where she was responsible for developing NAB’s MySuper strategy. Ms Shelley has recently been invited to join Bloomberg’s New Voices initiative, promoting the inclusion of leading women in commentary about the financial sector. The Equip Super and Catholic Super joint venture has been hailed as a ground-breaking move towards consolidation in the industry. Subject to completion of final due diligence, the Memorandum of Understanding will establish a Joint Venture Trustee managing funds for about 150,000 members. The joint venture’s unique structure maintains both superannuation brands. At completion, the joint venture will have a combined funds under management (FUM) of $26 billion, making it Australia’s tenth largest profit-for-member fund in market. Under the structure, funds will share a single trustee which will be led by a new, merged trustee board. This Extended Public Offer (EPO) model enables participating funds to achieve economies of scale in administration and investments, without loss of brand identity or control of relationships with members, employers and other stakeholders. Mr Fairley said the license, which enables it to partner with other funds while allowing their brands to be retained, should assist the new fund to build to around $50 billion in funds under management by 2025. Catholic Super’s bank hits $100 million in deposits 2019-08-09T00:27:40Z catholic-super-s-bank-hits-100-million-in-deposits Catholic Super’s bank, MyLife MyFinance, is stamping its credentials as an alternative to the big banks by attracting more than $100 million in deposits, with competitive savings and term deposit rates. Its customers are largely teachers, nurses and community sector people who care for and educate millions of Australians every day in hospitals, schools and aged care services. The profit-for-member bank is 100% owned by Catholic Super. The bank is enjoying strong growth year on year with its competitive home loans, car loans, investment loans, personal loans, term deposits and savings accounts. The bank’s General Manager, Mark Sawyer said: “The strength of our business model has resulted in the bank quickly reaching this milestone. Customers are looking for financial alternatives to the big banks and the personal banking experience we offer. They like that the same place where they invest their super is a one-stop-shop for their banking needs too. “Our sharp interest rates will appeal to customers who want good rates for savings and term deposits and some of the best priced home loans on offer. We’re very much a savings and loan bank and one of the few that offers a competitive interest rate simply for parking everyday savings. MyLife MyFinance General Manager, Mark Sawyer “The MyLife MyFinance bank offers fee-free banking through our mobile app and internet banking. We also cover our customers’ refinancing costs saving them over $1,000* when they bring their home loan to our bank. There are no catches. No hidden fees. No surprises. It’s banking like it should be.” To learn more about our sharp term deposit rates and competitive savings, call us on 03 9629 4484 or email info@mylifemyfinance.com.au * Saving of $1,004 calculated from a sample of home loan applications In deciding whether this product meets your needs, we recommend that you read this page in conjunction with our Product Disclosure Statement, Supplementary Product Disclosure Statement (Interest Rates), Supplementary Product Disclosure Statement (Schedule of Fees and Charges), and our General Terms and Conditions. A copy of these documents are available on our website. You can also obtain a copy of these by contacting our office on 03 9629 4484. MyLife MyFinance Limited Trading as MyLife MyFinance. ABN 54 087 651 750. AFSL/Australian Credit Licence Number 245606. How a teacher refinanced their old home loan to pay for school fees 2019-07-12T04:38:40Z how-a-teacher-refinanced-their-old-home-loan-to-pay-for-school-fees Your small bank delivering big value Shopping around for a better home loan rate and your own personal banker? It turns out that the same place where you park your retirement savings is the one-stop shop for your banking needs too. Low rates exclusive to Catholic Super members Borrowers chasing a better home loan on the back of the latest Reserve Bank interest rate cuts can now secure preferential and low rates through MyLife MyFinance – the bank 100% owned by the Catholic Super fund. If you’re a first home-buyer, the rate is even better. Mark Sawyer, General Manager with MyLife MyFinance, shared a good news story to explain how refinancing can help Catholic Super fund members: “A new customer came to the bank looking for a sharper home loan rate. Their old bank offered a loan of more than 5.00%. But we delivered a dramatic rate cut with our home loan offer. The customer saved tens of thousands of dollars over the loan term. They were thrilled with the savings as they directed them towards paying for their kids’ school fees. We’re talking about one very happy customer,” he explained. A challenger to the bigger banks “We’re a small bank with a personal banker service that takes pride by acting ethically and fairly towards our customers. Our mission is to deliver our Catholic Super fund members better value through preferential lending rates. Our customers are typically teachers looking to refinance to get a better deal. We’re putting up a real challenge to the big banks by offering a huge amount of value to our members. That included passing on the two full interest rate reductions handed down by the Reserve Bank on 5 June and 2 July 2019. No commissions. No bonuses “We don’t have brokers and we don’t pay or receive commissions or bonuses. Our personal bankers are committed to a bigger cause. They understand what’s important to our customers and valued members and their financial goals – such as paying down their loans sooner to free up more funds for retirement planning. On top of that, if our customers are already receiving a good rate from their current lender, we’ll tell them. In short, we don’t ‘sell’ products that customers don’t need. Huge value for new customers “We offer customers their own personal banker. Unlike some of the big banks, they don’t need to be part of a ‘millionaires club’ to qualify. Independent research^ shows that we’re listening. Our customers have said they’d recommend MyLife MyFinance to their family and friends ahead of CBA, NAB, Westpac, ANZ and Bendigo Bank. On the back of this loyalty we’re enjoying strong home loan growth.” But why is there such a big gap with what some banks offer? Mark explains that rates are often not properly explained to the public. “For example, people are often drawn to what’s called ‘honeymoon or introduction’ rates – not aware that the opening offer will eventually convert to a much higher variable rate. When these deals end it can take a bit of time to sink in that better rates can be found by refinancing with another bank. Our personal bankers work hard behind the scenes helping to boost our customers’ financial knowledge and to explain why we’re different. That’s paying off as our customers are saying ‘my super is invested with one of the six top funds – as flagged by Australia’s biggest financial comparison site Canstar – and now I can look to the same fund for preferential lending rates that beat many of the big banks rates.  Personal service “Even our younger customers are engaged when it comes to the high-touch service we offer. We’re seeing more first-time home-buyers. No matter what age group people come from they still want the same high standard – sitting down with us to better understand what’s involved in the home buying process – with the home loan only one part of their journey. We’re working hard to ensure everything we do is designed to support our customers. Easy-to-understand savings and loans. No hidden fees. No surprises “Our sharp interest rates will appeal to customers who want good rates for savings and term deposits and some of the best priced home loans on offer. We’re very much a savings and loan bank and one of the few that offers a competitive interest rate for parking everyday savings. With MyLife MyFinance we offer fee-free banking through our mobile app and internet banking, and we cover our customers’ costs to set up their home loan with us. There are no catches. It’s banking like it should be. We keep it simple and easy to understand with basic online savings accounts, attractive term deposits, owner-occupied and investment home loans and personal lending. Accredited bankers committed to fair banking “With teachers making up a large proportion of Catholic Super’s members, they’re in a good position to understand the benefits of education and transparency. All our bankers are professionally trained with the necessary accreditation. We want everyone – customers and the wider public – to know that we have an ethical mindset and are committed to fairer banking.” Get the most out of your money Catholic Super members can take advantage of competitive home loan rates by emailing info@mylifemyfinance.com.au  Industry super funds announce $26 billion joint venture 2019-05-01T08:01:11Z industry-super-funds-announce-26-billion-joint-venture Two of Australia’s best-performing superannuation funds are preparing a ground-breaking Joint Venture that will be a significant move towards consolidation in the industry. The trustees of Equip Super and Catholic Super have signed a Memorandum of Understanding, which, subject to completion of final due diligence, will establish a Joint Venture Trustee - initially managing over $26 billion in funds for about 150,000 members. Both funds have a history of exceptional performance, consistently ranking in the top ten of superannuation funds. The move comes as funds in the superannuation industry seek to improve member outcomes and best interests through the economies of scale consolidation can deliver. Catholic Super and Equip have reaffirmed their commitment to a skills-based governance structure focused on the interests of members, with a third of all directors to be independent. Both are profit to member funds and are aligned in terms of vision and values. Equipsuper Chair, Andrew Fairley AM, said he was delighted to enter into the MOU with a like-minded fund that focused on profits solely for the benefit of members, and endorsed a skills-based selection of trustees - one third from members, one third from employers and one third independent. “This joint venture would contain costs and improve efficiency, bringing real benefits to members,” Mr Fairley said. “It is positive proof the Extended Public Offer (EPO) model provides a solution to funds who value their brands and connection to community, while enabling economies of scale.” “This joint venture will be ideally positioned for future growth. This structure will drive stronger performance through efficiencies and scale of investments.” Equip boasts a consistently high investment performance, among SuperRatings’ top ten super funds over all periods in the decade to 31 December 2018. Chair of Catholic Super, Danny Casey, said the Joint Venture had many benefits for all. “The Joint Venture is the perfect pathway, bringing our members the benefits of scale while retaining the Catholic Super identity and strong connection with those working in Catholic institutions and communities,” he said. “Catholic organisations are one of our country’s largest employer groups who care for and educate millions of Australians every day. For nearly 50 years Catholic Super has invested wisely to grow the life savings and retirement income for nearly 75,000 super members – many of whom are hard-working teachers and nurses. We are committed to continuing this member-driven focus within the Joint Venture.” Catholic Super also brings a top ten track record to the Joint Venture. It was recently ranked by Canstar as one of the six top funds in Australia across a broad range of consumer groups for its combination of investment returns, fees, insurance options and access to advice and information. Catholic Super won the Roy Morgan 2018 Customer Satisfaction Award for Industry Superannuation Fund of The Year. Australian Teachers & nurses’ super fund tops league table 2019-04-05T00:42:09Z australian-teachers-amp-nurses-super-fund-tops-league-table Catholic Super – the $9.6 billion industry fund growing retirement savings for many teachers and hospital workers – has topped a league table, returning a high 10.49 per cent over seven years for members up to 50 years old with a balance of $100,000-250,000. That’s the finding from Canstar, Australia’s biggest financial comparison site. Canstar crunched the numbers for the best performing super funds on its database for annual investment returns over seven years, three years and one year to 31 December 2018. Anna Shelley, Catholic Super’s Chief Investment Officer, explained how her investment team’s strategy had paid off over a seven-year period by delivering on behalf of members’ best interests. “We’re mindful that superannuation is a long-term proposition,” she said. “Catholic Super’s younger members – those aged up to and in their 40s – have an aggressive asset allocation with the potential to pay off with more time in the market as there’s greater scope to grow their savings. "Catholic Super's investment approach follows through - serving members at the other end of the age spectrum as well. For members aged 50 years and older we change our market-based settings. By that life stage our goal is to continue to grow their capital but increase the focus on preservation, by putting their funds in our more balanced investment option. Anna Shelley, Catholic Super CIO “Catholic organisations are one of our country’s largest employer groups. About 220,000 people care for and educate millions of Australians every day.  On a personal note I’m very proud to be managing funds on behalf of teachers and nurses – mainly women – who deserve sufficient funds for a dignified and comfortable retirement.” A 75,000 strong member-owned fund, Catholic Super is also open to all Australians. For nearly 50 years the fund has helped members grow their lifetime savings through its financial planning, insurance, retirement, aged care planning and pension services. Competitive loans and savings accounts are also available at preferential rates for members through the fund’s 100 per cent member-owned bank – branded MyLifeMyFinance. Catholic Super is the only super fund that has 100% ownership in a banking institution. 5-star rating for outstanding super fund value: David O’Sullivan, Catholic Super CEO, receives the top award from Tom Slee, Canstar National Client Manager, Wealth & Health Catholic Super awarded Industry Super Fund of the Year 2018 2019-03-04T02:19:18Z catholic-super-awarded-industry-super-fund-of-the-year-2018 Catholic Super, a member owned fund, has snared a top customer satisfaction award just weeks after winning first place for financial performance. The fund has been ranked number one in the Roy Morgan 2018 Customer Satisfaction Award for Industry Superannuation Fund of The Year. David O’Sullivan, Catholic Super CEO, attributed the award to a high-touch service approach embedded in the fund. “The Catholic Super front-line team do the heavy lifting every day to help our members grow their life savings,” he said. “Our people spend as much time as necessary with our members both face-to-face and over the phone. There is no time limit – we go the extra distance for Catholic Super members. Customer satisfaction is highly prized. But it’s only one side of the value proposition. The other side of the coin is financial performance. Catholic Super is very proud to also be ranked number one in the Roy Morgan Satisfaction with Financial Performance of Superannuation Top 10 Performers – Retail and Industry Funds, January 2019. “Superannuation growth over the long term is a critical factor as demonstrated by data captured by research house, Chant West. Catholic Super’s Moderately Aggressive growth fund option was ranked as the top performer over the last 10 years for funds with a 61-80 per cent allocation to growth assets as at 30 June 2018. Catholic Super’s Balanced (MySuper) option was also ranked in the top 10 funds in the same Chant West Growth option survey. In addition, Catholic Super’s MyLife MyPension was also recognised for its outstanding value in 2018 by Canstar, an Australian financial comparison site.” Roy Morgan conducts Australia’s largest continuous nationwide single source survey, conducting approximately 50,000 face-to-face interviews with consumers across Australia every year. Customer Satisfaction ratings are collected as a part of these surveys. Media enquiries: Kerrina Lawrence, Corporate Affairs Manager M: 0448 754860 E: Klawrence@csf.com.au  Please visit csf.com.au/media-releases for more media releases from Catholic Super.  About Catholic Super An award-winning, member owned superannuation fund, Catholic Super manages A$9.35 billion (as at 31 January 2019) for 75,000 members and 24,000 employers working in the in the education, health and community care sectors. Since 1971 Catholic Super has helped members grow their lifetime savings through its financial planning, insurance, retirement, aged care planning and pension services. Banking services are provided through MyLife MyFinance, a 100% owned banking institution. For more information about Catholic Super, visit the csf.com.au website or call 1300 655 002