HOSTPLUS
David Elia - CEO
Growth and development in the super industry After a year of uncertainty and challenges due to the COVID-19 pandemic and its knock-on effects for our economy, markets and community, Hostplus delivered some impressive performance in 2020-21. Investment markets broadly recovered from the downturn of early 2020. Thanks to Hostplus’ long- term investment strategy, the Fund was able to weather this downturn and was well-placed to take advantage of the ensuing recovery. As a result, we delivered our best ever single-year performance across a range of investment options for the year ended 30 June 2021. The Balanced (MySuper) option delivered a market- leading net return of 21.32%. This is the best annual result for this option in the Fund’s 32-year history1. Both Indexed Balanced (18.88%) and SRI Balanced (21.82%) also achieved best-ever results2. Super is about investing for the long term, and Hostplus has built an investment strategy with the long-term horizon in mind. Over rolling 5, 7, 10, 15 and 20 year periods, our Balanced option ranked one of the top three options1. A merger with Intrust Super It’s been an exciting time of growth and development for Hostplus. Earlier this year we announced that we and another hospitality focussed industry fund, Intrust, will merge later this year. Intrust Super shares Hostplus’ heritage in the hospitality, tourism, recreation and sports sectors, and its for-member profit ethos. Thanks to this common heritage, the Fund’s strong focus on these sectors will continue. Our merger with Intrust will expand Hostplus’ size and scale, which will help ensure the continued growth, competitiveness and success of the merged
fund. Both funds are working together to bring enhanced services and benefits to members and employers as a result of the merger. We anticipate further merges within the super industry to occur over the next few years, so for Hostplus and Intrust Super, it’s a great opportunity to combine our competitive advantages to benefit our members now. It’s great news for the hospitality industry across Australia as this merger will mean as an employer, you’ll no longer need to choose between two great hospitality-focussed super funds as your preferred default fund. The merger is scheduled to take place on 26 November 2021. Intrust Super members will be receiving information about their investment options, super products and insurance arrangements post-merger. Intrust Super employers will also be receiving comprehensive information packs. These will include more details about how super administration processes will work going forward. Work is underway to ensure that employer service programs and key contacts will remain the same. This will assist Intrust Super employers with the transition. Changing super obligations for employers Hostplus is also helping prepare employers for some changes to their staff onboarding processes that are coming into effect from 1 November. Currently, most of your staff will join your default fund when they start work. From 1 November 2021, under new super reforms, new employees that already have a super fund will instead be ‘stapled’ to their existing super fund, unless they choose another fund to be stapled to. For first-time entrants to the workforce they will be ‘stapled’ to the first super fund they join. This could be a fund they
THA HOSPITALITY—REVIEW: AUGUST 2021 | 30
Made with FlippingBook. PDF to flipbook with ease