Annual Members’ Meeting 2020-2021
Livestreamed to our members on 8 March, our Annual Members’ Meeting for the 2020-21 financial year was a great opportunity to hear from our Board and leadership team on the fund’s performance and future vision.
Almost 1,600 members attended the meeting and were welcomed by Chief Marketing and Growth Officer, Dani Murrie. An important message followed from Rhys Paddick, educator, presenter and artist, about the significance and meaning of Acknowledgement of Country.
2021 was a landmark year for UniSuper - not only due to significant regulatory changes - but for the first time in our 40-year history we opened the door to all Australians. Ian Martin, UniSuper’s Chair, and Chief Executive Officer, Peter Chun, provided an update on the fund and outlined strategic priorities for the future. John Pearce, Chief Investment Officer, followed with an investment update.
The key updates included:
- Our Balanced investment option outperformed the industry median over 3, 5 and 10 years to 31 December, and returned 12.4% for the 2021 calendar year.*
- The Balanced option also ranked as the top performing default option on the Australian Prudential Regulatory Authority’s (APRA’s) MySuper Heatmap.#
- It’s worth remembering, though, that flat or negative returns can be expected from time to time.
- The Defined Benefit Division financial position remains strong, evidenced by its two key measures.
- UniSuper continued its position as one of the lowest fee providers in both super and pension products in 2021. Our fees are generally 40-50% lower than the average in the market.
- Details of the work achieved in our progress towards net-zero 2050.
- Our continued investment in technology and cyber security to keep our members, employers and company information safe.
- Our ongoing work to digitise and simplify processes to make it easy for you to interact with us. In particular, the UniSuper mobile app is currently in development.
- The vision for UniSuper in the coming years - to be our members’ first and last fund; to be a leader in ESG; to be the trusted fund for people in retirement.
- Another year of surprises impacting financial markets:
- Pleasant: booming employment conditions; Omicron impact not as severe as Delta.
- Nasty: booming inflation; an expectation of US rate hikes over the next year.
- The Ukraine situation is extremely concerning, but we know from history that geopolitical events don’t tend to have lasting effects on financial markets.
Our annual meeting is a valued opportunity for us to share information with you about the work going on at UniSuper, and we thank you for your strong engagement.
*Past performance is not an indicator of future performance
#Based on 7-year net investment returns at 30 June 2021