UniSuper

UniSuper is an Australian superannuation fund that provides superannuation services to employees of Australia's higher education and research sector. The fund has over 450,000 members and $85 billion in assets (funds under management and total member accounts at 31 December 2017).[1]

UniSuper
TypeNon-Profit
IndustryIndustry superannuation
HeadquartersLevel 1, 385 Bourke Street,
Melbourne, Victoria, Australia
Key people
Kevin O'Sullivan, CEO
Ian Martin, Chairman
ProductsSuperannuation
RevenueA$85 billion (funds under management)
Members450,000
Websiteunisuper.com.au

UniSuper is a not-for-profit company whose shareholders are 37 Australian universities and is governed by a corporate Trustee, UniSuper Limited. All the universities have representation on the Consultative Committee.

UniSuper has been granted a MySuper authority, enabling it to continue to receive default superannuation contributions from 1 January 2014.

Fund History

UniSuper was founded in October 2000, as a result of a merger between the Superannuation Scheme for Australian Universities (SSAU) and the Tertiary Education Superannuation Scheme (TESS). Prior to the merger, UniSuper had been the trustee for the SSAU.[2]

UniSuper has pursued a strategy of buying 'fortress' stocks (defensible against disruption), as well as bringing investment functions in-house, in order to achieve significant returns over time.[3]

Fund Governance

UniSuper's day-to-day administration is managed by a wholly owned company, UniSuper Management Pty Ltd (UniSuper Management)

UniSuper's Chief Executive Officer is Kevin O'Sullivan.[4]

Board of Directors

UniSuper's Board of Directors governs the operations of UniSuper to ensure the Fund is administered in accordance with the Trust Deed, and determines the strategic direction of the Fund. The Board represents, and is accountable to, the members of UniSuper and the Fund's participating employers.

The directors of UniSuper as of 2017 are:[5]

Directors representing employers
  • Nominated by shareholder universities
    • Professor Peter Dawkins (Vice-Chancellor and President, Victoria University)
    • Professor Jane den Hollander (Vice Chancellor, Deakin University)
  • Nominated by the Consultative Committee employer representatives
    • Nicole Gower
    • Stephen Somogyi
Directors representing members
Independent Directors
  • Ian Martin AM (Chairman)
  • Nicolette Rubinsztein
  • Mark Amour

Consultative Committee

The Consultative Committee reviews and approves changes to the Trust Deed and is responsible for nominating four directors to the Board of Directors.

Shareholder universities each appoint up to four members to the Consultative Committee. Half the members represent the employers, the other half represents, equally, academic staff and general staff.

As at 24 March 2017, the Consultative Committee had 145 members and there were four vacant positions.[6]

References
  1. "Who we are - UniSuper". www.unisuper.com.au. Archived from the original on 18 September 2017. Retrieved 8 July 2018.
  2. "Fund Profile - UniSuper". www.unisuper.com.au. Archived from the original on 27 March 2018. Retrieved 8 July 2018.
  3. Miles, Stephen (5 August 2019). "The secrets behind UniSuper's sparkling outperformance". The Sydney Morning Herald. Retrieved 28 August 2019.
  4. "Executive leadership team - UniSuper". www.unisuper.com.au. Archived from the original on 7 March 2017. Retrieved 8 March 2018.
  5. "The Board". UniSuper. Archived from the original on 3 February 2017. Retrieved 12 October 2016.
  6. "Committees - UniSuper". www.unisuper.com.au. Archived from the original on 27 March 2018. Retrieved 8 July 2018.
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