Talk:AustralianSuper

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Proposed change

Edit Request on 8 March 2024

Hello Wikipedia editors, I work for AustralianSuper and would like to propose the following changes to ensure the entry is current, correct and balanced.

- Text box on the right of the page: the “company type” should be changed from “Mutual fund” to “Profit-for-Member,” or “Industry Fund,” as AustralianSuper does not fully follow the same structure as a mutual fund.

- In the first paragraph, could the content be changed from, “AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. It is an industry super fund, and so operates through a mutual fund structure.” to:

“AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria, with other offices in most Australian capital cities, as well as international offices in New York, Beijing, and London. It is an industry super fund, working to create profit for members, not for stakeholders. Their purpose statement is ‘to help members achieve their best financial position in retirement.[1]”

Reason for proposed change: this provides more detail and is more specific to AustralianSuper’s work as a profit-for-member. AustralianSuper is not a mutual fund, it is a Trust (Evidence: https://www.australiansuper.com/-/media/australian-super/files/about-us/governance/australiansuper-trust-deed.pdf ). All additional information has been sourced from the FY23 annual report (https://www.australiansuper.com/-/media/australian-super/files/about-us/annual-reports/2023-annual-report.pdf )

- In the second paragraph, could the content be changed from, “With nearly A$300 billion of retirement savings under management and over 3.2 million members, AustralianSuper is the largest superannuation fund in Australia and the eighteenth largest pension fund in the world.[1][2]” to

“With over A$300 billion of retirement savings under management and over 3.3 million members, AustralianSuper is the largest superannuation fund in Australia and one of the twenty largest pension funds globally.[1][2] On average, more than 1,400 new members joined each day in FY23.[1]”

Reason for proposed change: This provides slightly more detail. A more reliable source that could be used for the second citation is: Thinking Ahead Institute (https://www.thinkingaheadinstitute.org/research-papers/the-worlds-largest-pension-funds-2023/ ), as this is the source of the data instead of an article citing other data sources. Citation suggestion for the size of the fund: https://www.australiansuper.com/about-us )

- In the History section of the webpage, could an additional line of content be added after the first paragraph stating: “In 2021, it was announced that Paul Schroder would be stepping into the role of Chief Executive following Ian Silk’s retirement.” (Citation for this new content: https://www.australiansuper.com/-/media/australian-super/files/about-us/media-releases/australiansuper-changes-leadership.pdf ).

Additionally, could the content surrounding the merger with LUCRF be removed, as the company has undergone many different mergers which would be lengthy to list out, and this is only one of many. If this cannot be removed, could the statement be changed to: “Since the initial merger of ARF and STA in 2006 to form AustralianSuper, it has undertaken many other mergers with smaller superannuation funds such as; Westscheme, (Citation: https://thewest.com.au/business/finance/westscheme-to-merge-with-australiansuper-ng-ya-181531) AGEST (Citation: https://www.investmentmagazine.com.au/2011/12/australiansuper-agest-super-to-merge/) and LUCRF.”

- Could the information about the deal for Origin Energy be moved into the controversies section of the page? This content is a one-sided view from some media articles. Could additional commentary be added to make the content more balanced, or remove it from the page? Another source for this section could be the media release publicly published by AustralianSuper: [ https://www.australiansuper.com/-/media/australian-super/files/about-us/media-releases/australiansuper-rejects-brookfield-bid-for-origin-energy.pdf ], AustralianSuper, as this is their official position on the issue or https://www.investmentmagazine.com.au/2023/11/aussuper-owns-this-fight-perpetual-backs-mega-funds-conviction-on-origin-energy/ or https://www.afr.com/markets/equity-markets/schroders-says-origin-energy-assets-undervalued-20231205-p5ep7mWestscheme

- In the Features section of the webpage could the content be changed from, “AustralianSuper offers a ‘Member Direct’ option, allowing users greater control in selecting a portfolio of Australian shares, ETF’s, term deposits and cash.” to “AustralianSuper offers a variety of different investment options. Including a ‘Member Direct’ option, allowing users greater control in selecting a portfolio of Australian shares, ETF’s, term deposits and cash.” (Citation: https://www.australiansuper.com/investments/your-investment-options)

- Two proposed new sections are suggested. These are comparable to sections we have seen on other superannuation funds' Wikipedia pages, and we believe are appropriate to have on the page as they provide more information about AustralianSuper to readers.

1. Could we add in a section titled “Current Ratings and Awards” with the following content in place. Each award has a citation from the website it was awarded.

2011-2023 – Canstar Outstanding Value Superannuation (Citation https://www.canstar.com.au/star-ratings-awards/superannuation/ )

2013 – 2023 Reader’s Digest Trusted Brand Superannuation (Citation “Australian Super - Trusted Brands Australia 2023”. Trusted Brands Reader’s Digest)

2022 – 2023 – Canstar Outstanding Value Account Based Pension (Citation “Account Based Pension Awards 2023 | Canstar”. Canstar.)

2022 – Finder Best High Growth Super Fund Award Winner (Citation “Finder Super Fund Awards 2022 | finder.com.au.” Finder.)

2023 – Chant West Investments Best Fund (Citation “Super Fund Awards 2023 Winners & Finalists | Chant West”. Chant West.)

2023 – Finder Best Industry Fund (Citation “[https://www.finder.com.au/super-funds/best-performing-super-funds)

2. Could we add in a section titled “Governance” with the following content in place. This provides additional information about how the company is led and governed.

The Trustee of the Fund is AustralianSuper Pty Ltd, which is governed by a Board of Directors. All Directors are non-executive and independent of management. Directors are appointed by the Trustee’s shareholders. Member Directors are appointed by ACTU Super Shareholding Pty Ltd and Employer Directors are appointed by the Australian Industry Group. The Trustee shareholders jointly appoint Independent Directors. All Director appointments are subject to ratification by the Board.[1] As of 30 June 2023, the Board, led by Chair Dr Don Russell, comprised of five member representative directors, five employer representative directors and two independent directors.[1]

[1] https://www.australiansuper.com/-/media/australian-super/files/about-us/annual-reports/2023-annual-report.pdf

Thank you for your consideration. Editors, please help us to improve this page by confirming any sections you see as relevant. CommunicationsAS (talk) 00:00, 8 March 2024 (UTC)