HOST PLUS
HOST PLUS
CEO Hostplus David Elia
APRA performance test Hostplus also recently received confirmation from the Australian Prudential Regulatory Authority (APRA) that the Fund has passed the regulator’s MySuper performance test. “Our pass mark from APRA is another indicator that our MySuper Balanced option is achieving its long-term investment outcomes,” Elia says. You can readmore about theAPRAperformance test, as well as Hostplus’ recent investment performance, on the Hostplus website – hostplus.com.au/news 1Further details about the Your Future, Your Super legislation are available on the Hostplus website.
Industry super fund Hostplus recently joined Charter Hall’s Long Wale REIT (CLW) in a bid for 78 pub assets owned by ALE Property group. Hostplus CEO, David Elia, says the arrangement will see CLW and Hostplus each holding a 50% stake in ALE on completion. “This investment is an incredible opportunity for Hostplus members to gain exposure to a large- scale portfolio of high-quality hospitality assets,” he says. The properties provide Hostplus with an attractive rental income profile. They’re leased ona triplenet basis,meaningcapital expenditure is the responsibility of the tenant. “This investment is another way we can work towards delivering retirement income security to our members,” Mr Elia says. “These are well-located properties with a high-quality tenant. As well as being a good investment for our members, it’s also great that it supports the hospitality industry, which is Hostplus members’ funds are also being invested in a range of innovative opportunities to maximise future growth and capital returns. Indeed, the Fund is one of Australia’s largest institutional investors in venture capital funds and start-up companies. One such company, Commonwealth Fusion Systems (CFS), recently achieved a major clean- energy breakthrough. CFS successfully tested a high-temperature superconducting magnet. The test established that the magnet could create a powerful enough magnetic field to achieve net positive energy through fusion technology. This is the same energy that powers the sun. CFS is now on course to establish the first significant to our origins.” Investing in clean energy
test plant. The company is looking to achieve sustained fusion energy generation by 2025. Elia advised that this breakthrough marks a significant milestone in the world’s transition to renewable energy. “Climate change is one of the biggest challenges facing the world today. Our investment in CFS is just one element in our commitment to support the development of renewable and sustainable forms of energy,” he said. Supporting the reopening hospitality industry As Australia begins to open up in line with vaccination rates, Hostplus is keen to support reopening hospitality businesses. This support is especially timely, as changes to super default arrangements and administration took effect on 1 November 2021. The changes, under new legislation known as ‘Your Future, Your Super’, require employers to determine if new staff members already have an active super account. If they do, their super contributionsmust be paid to this account, unless the employee directs the employer otherwise1. “Our team of dedicated Key Account Coordinators and Account Managers is ready to help employers understand and meet these new requirements,” Elia says. “Support is available face to face, online and over the phone.” Importantly, businesseswill still need tonominate a default fund. However, only staff who are new to the workforce (who haven’t had a super account previously and haven’t elected a fund themselves) can be allocated to the employer’s selected default fund. “So it’s even more important for employers to make sure your default fund is a top performer,” Elia says.
This information is general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement (PDS), available at hostplus.com. au before making a decision about Hostplus. For a description of the target market, please read the Target Market Determination (TMD), available at hostplus.com.au. Issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657 495 890, MySuper No 68 657 495 890 198.
AJG.com.au
Along with making sure you have a contingency plan that your staff all know about, take practical steps around storage of flammable liquids and ensuring exits are unobstructed. And, of course, make sure your insurance fully protects your restaurant or hotel. • Check your inventory of assets is up to date • Does your insurance cover accurately reflect the current value of your enterprise? • Do you have business income protection if you are forced to cease trading? To find out more connect with Daniel Quintin on 03 6235 1241 or daniel.quintin@ajg.com.au Are you bushfire ready? Be proactive in safeguarding your business Arthur J. Gallagher & Co (Aus) Limited. AFSL 238812. Cover is subject to the Policy terms and conditions. You should consider if the insurance is suitable for you and read the relevant PDS and our FSG before making your decision to acquire insurance. These are available on request or at ajg.com.au. REF2861-0921-1.0
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Hospitality Review: October 2021 33
Hospitality Review: October 2021 32
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