2014 Annual Report
The industry super fund for
rural and regional Australia
Committed to rural and regional
communities and industries
AustSafe Super Annual Report 2014
Contents
AustSafe Super has achieved
the highest possible AAA rating
in SelectingSuper’s analysis of
superannuation fund quality. The rating
is a detailed analysis of 330 areas of a
superannuation fund’s operation and
management and is designed to offer
both employers and members an
easy-to-use reference for the overall
quality of superannuation funds.
Local isn’t our
perception, it’s reality.
We pride ourselves on
understanding and
responding to the local
issues of our members
and employers.
This superannuation fund rating
service covers industry funds, master
trusts and multi-employer funds in
the corporate and retail sectors. In
the 2014/15 financial year, AustSafe
Super’s MySuper (Balanced)
Investment Option has been judged as
“outstanding” and has been awarded
the highest rating with 5 Quality Stars.
Craig Stevens, CEO
We are MySuper authorised!
AustSafe Super launched its MySuper
product on 1 January 2014.
We are an Industry SuperFund.
Look for this symbol when selecting
a super fund. Choosing a fund that
carries this symbol could make a
significant difference to your retirement
because it represents funds that have
low fees, do not pay commissions to
financial advisers and are run only to
benefit members.
If you want a quality super fund that
puts you first, all you have to do is look
for this symbol.
Contents
02
About AustSafe Super
12
Our Board of Directors
25
Investment Options
04
Welcome from the Chair and
Chief Executive Officer
14
Managing the Fund’s
Operations
30
How Your Money Is Invested
08
Fund Changes
15
Local Regional Managers
32
Abridged Financial
Statements
10
Corporate Governance
18
Investment Overview
34
Other Information
11
Education
20
Investment Objectives
and Strategies
This Annual Report was published by Austsafe Pty Ltd, the Trustee of AustSafe Super in August 2014. All care has been taken to ensure the information in this report is
correct, however, neither the Trustee nor its representatives or advisers accept responsibility for any error or misprint or for the consequences of any person acting on this
information. Opinions expressed by individuals quoted in this report are personal views and not necessarily those of the AustSafe Super Trustee. The general information
provided in the Annual Report does not constitute financial or legal advice and does not take into account your personal situation and financial circumstances.
Before making a decision to invest in an AustSafe Super product, you should read the relevant Product Disclosure Statement available at austsafe.com.au. Austsafe Pty
Ltd holds an Australian Financial Services License (AFSL 314183) and is licensed to provide general financial advice on superannuation products.
Issued by Austsafe Pty Ltd ABN 96 010 528 597 AFSL 314183 RSE Licence L0002035 as Trustee of AustSafe Super ABN 92 398 191 503 RN R1005509 MySuper
UI 92398191503985
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
About Us
About Us
About AustSafe Super
Our Vision
Our Mission
AustSafe Super is the industry super fund for rural and regional Australia.
To be the super fund of choice for
rural and regional Australia.
As an industry super fund, we exist
for our members. We seek to provide
competitive benefits and services to
members and their employers, which
are simple and efficient and deliver
strong investment outcomes.
For over 25 years, AustSafe Super has been committed to looking after
members’ super throughout their working lives and into retirement as
well as helping employers understand super and meet their obligations.
AustSafe Super is run only to benefit members which means low fees#
and a history of strong long-term investment performance*.
#SuperRatings Fundamentals Assessment – Fee Comparison result better than average – 30 June 2014.
*SuperRatings Fund Crediting Rate Survey – Balanced (60-76) Index result above median on rolling 10 year return for AustSafe Super - MySuper (Balanced) – June 2014.
Past performance is not an indicator of future performance. Fees may vary in the future.
We aim to respond to local issues
and needs and continuously improve
the quality of products and services
to customers (members, their
families and employers).
Our Values
Hardworking
Reliable
Honest
Local
Workers from
Rehbeun Family
Ginger meeting
after a ginger
harvest in
Bundaberg, QLD.
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Welcome
Welcome
Message from the Chair and Chief
Executive Officer
Henry Smerdon AM
Chair
The last year has been a very busy one for
superannuation funds with a significant amount
of change occurring from the introduction of
Government initiatives. In this environment, AustSafe
Super has thrived and demonstrated a strong
connection to our values, to our members and our
employers in rural and regional Australia. We’re proud
to present the 2014 AustSafe Super Annual Report.
In April 2013, we welcomed the members of the Canegrowers
Retirement Fund (CRF) to AustSafe Super. Since the merger,
former CRF members have enjoyed strong investment returns with
the CRF Capital Stable Investment Option ranked in the top 10 best
performing^ Capital Stable Investment Options over the financial
year. We’ve also met with many of the former CRF members
directly and through our seminar program in the past year.
Our local team of Regional Managers
During the year, we added to our team of local Regional Managers
with the appointment of Anthony Brick in Townsville and Jamie
Woods in Mackay. Stacey Watson in Bundaberg was also
recognised as a winner in the 2013 Queensland Rural, Regional &
Remote Women’s Network (QRRRWN) Strong Women Leadership
Awards and as a finalist in the 2014 Women in Horticulture Awards.
We have a strong team of dedicated Regional Managers in local
regional areas to support members and employers.
Investments
Employer solutions – Clearing House
The Fund has continued to deliver strong investment outcomes with a return of 12.62%
for the MySuper (Balanced) Investment Option for the year to 30 June 2014. This strong
performance has also been demonstrated over the long term with average returns of 9.55%
p.a. over 3 years, 9.56% p.a. over 5 years and 9.40% p.a. over the 26 years since the
Fund began. This is a true testament to the hardworking nature of AustSafe Super and its
commitment to delivering strong investment outcomes for members.
This year we introduced a new Clearing House service to help
employers manage their superannuation obligations to comply
with SuperStream requirements. Our Clearing House, QuickSuper,
enables employers to make one simple payment for all their
superannuation contributions, saving time and money and
it’s free to all employers using AustSafe Super as their
default fund.
MySuper and insurance
Craig Stevens
Chief Executive Officer
Canegrowers Retirement Fund
During the year, we introduced the AustSafe Super MySuper product and delivered
significant improvements in the level and value of insurance cover for members. The
MySuper (Balanced) Investment Option proudly stands amongst the best performing* and
value for money# superannuation options for Australians, and is run only for the benefit
of members.
Board and Governance
Once again, the Board and team of AustSafe Super
have been working hard to deliver strong retirement
outcomes for members. We continue to focus
on strategies and services to meet the unique
needs of our members and employers in rural and
regional Australia.
The Board farewelled two long serving Directors
in 2013. Ian Ballantyne, a representative of
CANEGROWERS since 1991 and Bob Boscacci,
a founding Director representing the Australian
Workers Union. The Board would like to sincerely thank Ian and
Bob for their outstanding contributions to the success of AustSafe
Super and wish them the very best. Three new Directors also joined
the Board.
We have a strong team of
dedicated Regional Managers in
local regional areas to support
members and employers.
We welcomed Charis Mullen, Campaign Co-ordinator of the
Australian Workers’ Union, Queensland in October 2013. Also,
Tracey Sharpe, South Western District Secretary of the Australian
Workers Union of Employees, Queensland and Brendan Stewart,
an experienced executive and Director and the current CEO of
CANEGROWERS joined in February 2014.
The past year also saw a significant review of the Fund’s governance
frameworks to support the new Prudential Standards for superannuation funds and the introduction of maximum terms for Directors.
As the Government works to review and secure retirement policy for
Australians, there is no doubting the amount of change across the
superannuation landscape. We strongly believe that AustSafe Super
is well positioned to leverage this change for the benefit of members
and employers, and to strengthen our already strong relationship
with rural and regional Australia. Our commitment to strive for strong
retirement outcomes for our members is unwavering and is the
reason AustSafe Super exists.
Henry Smerdon AM
Craig Stevens Chair
Chief Executive Officer
*SuperRatings Fund Crediting Rate Survey – Balanced (60-76) Index result above median
on rolling 10 year return for AustSafe Super - MySuper (Balanced) – June 2014
#
SuperRatings Fundamentals Assessment – fee comparison result better than average
– 30 June 2014.
^
SuperRatings Fund Crediting Rate Survey – Capital Stable (20-40) Index - June 2014
Past performance is not an indicator of future performance. Fees may vary in the future.
James Howe
with his dog
Parliament
in Walkamin,
QLD.
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Fund Growth
1988
New members welcomed during 2013/2014
Fund Growth
2014
New contributing employers during 2013/2014
23,158 4,231
Super is a long-term investment and can become one
of your most important assets. For that reason, focus on
the medium and long-term results of your super fund to
measure and assess performance. When compared against
retail funds and industry super funds, AustSafe Super has
outperformed over the medium to long-term.
Craig Stevens, CEO
Funds under management as at 30 June 2014
1.7 billion
$
Strong long-term performance
Median Fund
AustSafe Super
3 years
9.06%
9.55%
5 years
9.21%
9.56%
10 years
6.78%
6.97%
According to data released by
independent ratings agency,
SuperRatings for the year ending
30 June 2014, AustSafe Super has
outperformed retail funds and
industry super funds over three,
five and ten year periods.
Source: SuperRatings Fund Crediting Rate Survey – SR50
Balanced (60-76) Index - June 2014.
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Fund Changes
On track with
obligations
Insurance
All employers are now required to make Superannuation Guarantee (SG)
contributions into a superannuation fund that offers a MySuper product on
behalf of any employees who have not chosen a specific fund themselves.
As part of the introduction of the MySuper
product, a number of changes were made
by AustSafe Super to its insurance offering,
effective from 6 December 2013. This included
providing more members with the benefit of
Death and Total & Permanent Disablement (TPD)
cover. This was provided on an opt-out basis,
and the Fund wrote to members at the time
advising the changes, giving them the choice
whether to retain the insurance cover or not.
AustSafe Super received its MySuper Authorisation from the Australian
Prudential Regulation Authority on 23 August 2013. On 1 January 2014,
AustSafe Super launched its MySuper product under the name, MySuper
(Balanced) Investment Option, having renamed its default product, Balanced
Investment Option. As a result, AustSafe Super can now accept all SG
contributions from employers.
SuperStream
SuperStream is the name given by the Government to cover the changes
to be made to improve data quality and to direct the use of technology to
improve processing efficiency. The concept also covers improvements to
the way rollovers are processed and the way that contributions are made.
AustSafe Super successfully implemented a number of the Government
prescribed SuperStream data and payment standards to provide for a
more timely and efficient processing of superannuation rollovers from
fund to fund.
AustSafe Super is also preparing for the employer-related SuperStream
standards that will come into effect during the 2014/2015 financial year.
Employers making SG contributions on behalf of their employees will need
to comply with the new data and payment standards of SuperStream, which
aims to provide employers with a consistent, reliable electronic method for
making contributions and sending information to super funds.
Medium to large employers (20 or more employees) have until
30 June 2015 to meet the SuperStream requirements when sending
superannuation contributions on behalf of employees. Small employers
(less than 20 employees) have until 30 June 2016 to meet these
requirements.
AustSafe Super has already introduced its Clearing House facility,
QuickSuper, to allow employers to comply with these new requirements
and to pay employees’ super electronically to AustSafe Super and other
funds in one transaction and has been providing assistance to any
employers wanting to use the service.
QuickSuper does all the hard work for you electronically!
Fund 4
Fund 5
MySuper (Balanced)
Investment Option
The MySuper (Balanced) Investment Option is
now AustSafe Super’s default option for Industry
Super and Personal Super members. When
establishing the MySuper product, there was
no change to the way in which this option was
invested, or to the fees charged to members.
The AustSafe Super Pension product was not
affected by the MySuper changes and the
relevant investment option is still known as the
Balanced Investment Option.
Bank Cash Investment Option
The Bank Cash Investment Option was closed
to all members on 6 December 2013 and any
existing members’ investments were transferred
to the AustSafe Super Cash Investment Option.
This option was structured to similarly achieve
constant stable returns with low volatility and a
lower investment management cost.
Fund 6
The CRF Capital Stable Investment Option, a
conservative investment strategy which expects
stable but moderate returns, will be available
to all members from 17 November 2014. The
AustSafe Super Investment Choice Guide
provides details of the CRF Capital Stable
Investment Option, including its investment
objective, timeframe and target asset allocation.
“To meet the SuperStream obligations, we wanted a resource to
simplify our processes. Using multiple online super systems and
payment methods such as cheque, EFT and direct debit was very
time consuming.”
With the help of local Regional Manager, Bruce Waltisbuhl and
the staff at AustSafe Super, Michelle found the transition to
QuickSuper easy and straight forward.
“The authorisation and payment process is simplified – all we
need to do is make one transaction to authorise and pay super to
employees.”
“Bruce is always ready to help with any super questions either from
myself or employees, and if he hasn’t been able to answer my
questions, he goes out of his way to ensure someone at AustSafe
Super can assist me.”
Name: Location: Michelle
Toowoomba
Michelle’s local Regional
Manager, Bruce Waltisbuhl
I found the
transition to
QuickSuper,
easy & straight
forward.
“It’s good to know that Stahmann Farms is now compliant with
SuperStream’s data and payment standards.”
AustSafe Super is Stahmann Farm’s default fund for any new or
existing employees who don’t select their own super fund.
“We chose AustSafe Super as our default fund as it’s the Industry
based fund for agriculture and has a history of looking after its
members.”
dustry Sup
In
Au
Fund •
er
Employer makes one simple transaction
Fund 3
Investments
Canegrowers Retirement Fund
(CRF) Capital Stable Investment
Option
How QuickSuper works
Fund 2
The AustSafe Super Insurance Guide provides
details of the insurance AustSafe Super offers
and includes important information about
obtaining insurance cover through the fund,
including Income Protection insurance.
Michelle Porter is the Company Accountant at
Stahmann Farms. For 15 years, Michelle has
processed super for company employees. With
the help of AustSafe Super’s Clearing House –
QuickSuper, Stahmann Farms is now meeting
the SuperStream requirements when sending
superannuation contributions on behalf of
employees.
r
MySuper
AustSafe Super
Member Profile
pe
Fund Changes
AustSafe
Super
9
Employer Profile
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Corporate Governance
Education
Corporate Governance
Education is our commitment
The Trustee
Board Charter and Committees
Austsafe Pty Ltd is the Trustee of AustSafe Super (the Fund) and
operates in accordance with the Trust Deed and superannuation
law. The Fund is a Registrable Superannuation Entity (RSE) and
the Trustee is an RSE Licensee. Austsafe Pty Ltd also has an
Australian Financial Services Licence (AFSL).
The Trustee Board takes its prudential and governance
responsibilities very seriously and has in place a Board Charter
which clearly sets out its role and responsibilities.
AustSafe Super is committed to educating our
members, employers and industry associations on
all matters relating to super.
The Trustee Board is responsible for the strategic direction of the
Fund and oversees the ongoing operations in the best interests of
the Fund’s members and other beneficiaries.
Appointment of Directors
Our Board of Directors is appointed in accordance with the
provisions of the Austsafe Pty Ltd Constitution and is made up
of three Member Directors and three Employer Directors who
are nominated by our four shareholders – the Australian Workers
Union of Employees Queensland (AWU) representing members,
and Queensland Fruit and Vegetable Growers Ltd (Growcom),
Queensland Industrial Union of Employers (AgForce) and
Queensland Cane Growers Organisation Ltd (CANEGROWERS)
representing employers from rural and regional industries. Each
Director is appointed for a four year term. The Constitution
allows for the appointment of one or more independent Directors
and also allows for the appointment of an additional Member
Representative in circumstances where Australian Prudential
Regulation Authority (APRA) has formally approved the
appointment. All Directors are non-executive.
The AWU appoints Member Directors. Agforce, CANEGROWERS
and Growcom each appoint one Employer Director.
Changes to the Board
The Trustee has also established Board Committees to assist
with the oversight of specific areas of the Fund’s operations. All
are governed by their own Charters and Delegations of Authority,
as approved by the Board. These Committees review matters
on behalf of the Board and either make recommendations for
consideration by the Board, or make decisions as a delegate of
the Board.
These committees are:
§§ Risk, Audit & Compliance Committee
§§ Investment Committee
§§ Insurance Management & Claims Committee, and
§§ Nomination and Remuneration Committee.
Trustee Liability Insurance
The Trustee continues to maintain Superannuation Fund Trustee
Liability Insurance to protect itself and the Fund from the financial
impact of legal action against the Fund which may involve claims
for damages or compensation.
Trust Deed
Austsafe Super’s Trust Deed was not amended during the
2013/14 financial year. A copy of the Trust Deed is available from
our website or by contacting AustSafe Super.
Constitution
Charis Mullen was appointed as a Member Representative
Director on 31 October 2013 to replace Ben Swan who
resigned on 30 August 2013.
Tracey Sharpe was appointed as Member Representative
Director on 13 February 2014 to replace Robert Boscacci
who resigned on 12 December 2013.
Mr Brendan Stewart was appointed as Employer
Representative Director on 13 February 2014 to replace Ian
Ballantyne who resigned on 12 December 2013.
Austsafe Super’s Constitution was not amended during the
2013/14 financial year. A copy of the Constitution is available
from our website or by contacting AustSafe Super.
For employers:
For members:
We work with over 14,000 employers
across rural and regional areas in
Australia.
We’re dedicated to our members in rural
and regional communities and industries.
§§ We aim to make super easier to
understand and administer, through
a range of publications, phone,
face-to-face support and our secure
online Clearing House – QuickSuper
to help employers make contributions
anywhere, anytime.
§§ Specialised Regional Managers, who
live and work in local areas and are on
hand to help with employer obligations
or visit the workplace to speak to
employees.
§§ Regular communications through our
Employer Updates sent automatically
to employers via email or post.
§§ Employer seminars, held in rural
and regional areas, to provide
further education and support about
legislative changes impacting business
obligations.
§§ Regular editorials in industry
associations to provide education
regarding superannuation
developments that may affect
employers.
We are dedicated
to over 133,000
members in rural
and regional
communities and
industries.
§§ We run workplace and retirement
seminars to provide updates on
legislative changes and resources for
retirement planning.
§§ Regular communications through
our Member Newsletters keeps our
members informed about the latest
super updates and tips to manage
their super.
Retirement Seminars
§§ Specialised Regional Managers, who
live and work in local areas and are on
hand to help with member enquiries.
§§ Regular editorials through industry
associations to provide further
education regarding the latest
superannuation developments that
may affect members.
§§ Access to AustSafe Super Financial
Planners* to help members make
the most of their super and plan for
retirement.
*AustSafe Super financial planning services are provided
by Industry Fund Services Limited (AFSL 232514, ABN
54 007 016 195).
For associations:
Employer Brochures
As a super fund established specifically
for the rural and regional industries and
communities, we hold memberships and
sponsorship arrangements with various
industry and community associations and
take pride in supporting these industries
and communities.
§§ We contribute to regular editorials
through industry associations.
§§ Regional Managers attend local
industry association events and further
educate members and employers
regarding changes in superannuation.
Member Newsletters
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Our Board of Directors
Our Board of Directors
AustSafe Super’s Board of Directors
meet regularly to discuss a range of
issues relating to the strategic direction
of AustSafe Super and the investment
of members’ money.
Our Board of Directors
Chair and
Independent Director
Member Representative Directors
Mr Henry Smerdon AM
Mr Keith Ballin
Mr Alfio (Alf) Cristaudo
Ms Charis Mullen
Ms Tracey Sharpe
Mr John Bishop
Mr Charles Burke
Mr Brendan Stewart
Henry is the Chair of the Austsafe
Pty Ltd Board of Directors and
was appointed to this position
on 8 December 2011. He is
an Independent Director and
Chair of both the Investment
Committee and the Nomination &
Remuneration Committee.
Keith was appointed to the
Austsafe Pty Ltd Board as
a Member Representative
Director on 1 July 2009. He is
a member of the Investment
Committee and the Insurance
Management & Claims
Committee.
Charis was appointed to
the Board as a Member
Representative Director on 31
October 2013. She is currently
a member of the Insurance
Management & Claims
Committee.
Tracey was appointed to the
Austsafe Pty Ltd Board as
a Member Representative
Director on 13 February
2014 and is a member of the
Risk, Audit & Compliance
Committee.
Keith has worked with the
Australian Workers’ Union of
Employees (AWU) for more
than 25 years and is currently
the District Secretary for
Central Queensland.
Charis is the Campaign Coordinator in the Australian
Workers’ Union (Queensland
Branch). Charis has over 20
years’ experience in both
government and the corporate
sector providing strategic
advice and on-the-ground
support in government affairs,
public policy and advocacy,
stakeholder engagement
and communication strategy.
She has worked across a
number of industries including
development, transport,
infrastructure, mining, gaming
and tourism as well as
telecommunications.
Tracey has been associated
with the Australian Workers’
Union (AWU) for over 25 years
in various representative
positions. She is currently the
AWU District Secretary for
South Western Queensland
and is also a member of the
AWU National Executive.
John is the Deputy Chair of the
Austsafe Pty Ltd Board and
was appointed as an Employer
Representative Director on
20 February 2003. He is
the Chair of the Risk, Audit
& Compliance Committee
and a member of both the
Investment Committee and the
Nomination & Remuneration
Committee.
Charles was appointed to the
Austsafe Pty Ltd Board as
an Employer Representative
Director on 18 December
2007. He is currently the Chair
of the Insurance Management
& Claims Committee and a
member of the Risk, Audit
& Compliance Committee
and the Nomination &
Remuneration Committee.
Brendan was appointed to
the Austsafe Pty Ltd Board as
an Employer Representative
Director on 13 February
2014 and is a member of the
Investment Committee.
Henry has more than 45 years
experience in the public and
private sector, including five
years as the Under Treasurer
and Under Secretary of the
Queensland Treasury Department
as well as four years as CEO
of the Queensland Investment
Corporation and Chair of Q-Invest
Ltd. Henry was also Chair of the
Government Superannuation
Funds for a number of years. He
is currently Deputy Chancellor
of Griffith University, Chair of
Flagship Investments Ltd, Chair of
Queensland Education leadership
Institute Ltd, a member of the
Public Trust Office Investment
Board, a board member of National
Trust Australia (Qld) Ltd and Chair
of the Trust’s Currumbin Wildlife
Sanctuary Committee. His current
directorships also include the Public
Trust Office Investment Board.
Alf was appointed to the
Austsafe Pty Ltd Board on 4
June 2013 as an additional
Member Representative
Director for a limited term
(with regulatory approval), to
support the merger between
the Canegrowers Retirement
Fund and AustSafe Super
which took place in April
2013. He is a member of the
Risk, Audit & Compliance
Committee.
John was the Chairman of
Growcom and is the owner/
manager of Bishop Farms
and a director of Bishop
Gardens. He is a member
of the Queensland Farmers’
Federation (QFF) Water
Committee and of the
Community and Industry
Advisory Group for the
Moreton Bay Waterways and
Catchments Partnership.
Charles is the CEO of AgForce
and has held a number of
positions with the National
Farmers Federation (NFF),
including Vice President and
Director of NFF Limited.
Henry was awarded the centenary
Medal in 2001, and in 2010 was
made a Member of the Order of
Australia. Henry is also a Fellow of
the Australian Society of Certified
Practising Accountants (FCPA)
and a member of the Australian
Institute of Company Directors
(MAICD).
Keith has held various
positions on other Boards
and Committees including the
Rural Workplace Health and
Safety Sub Committee and
Emerald Agricultural College
Board.
Currently, Alf is on the
boards of Australian Farmers’
Fighting Fund, Australian
Made Campaign Limited
and Ravensdown Fertiliser
Australia. He is the former
Chair of the Australian Sugar
Industry Alliance, Australian
Canegrowers Council and
National Farmers Federation
among others. Past
directorships have included
Queensland Canegrowers
Organisation Limited.
Employer Representative Directors
Charis was previously the
Senior Policy Advisor for
the Office of the Minister
for Environment, Local
Government and Planning
(Queensland).
Tracey is a former Director
of the Rural Industry Sector
Standing Committee and has
held a number of positions
with the Australian Workers’
Union.
Brendan is the Chief Executive
Officer of CANEGROWERS.
Originally from a family farm in
Chinchilla, Brendan has had
a long, high-profile career in
Australian agriculture, including
appointments as Chairman of
AWB, Chairman of the Grains
Council of Australia and Vice
President of the National
Farmers’ Federation.
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Managing the Fund’s Operations
Our Regional Managers
Managing the Fund’s Operations
Local Regional Managers
Implementation of the Fund’s strategy and day to day management of the operations
of the Fund has been formally delegated to the Chief Executive Officer (CEO) and is
regularly reviewed by the Board.
A dedicated team of specialist Regional Managers
are located in regional centres, on hand to help
employers and members.
The Fund CEO is Mr Craig Stevens and he is supported by a strong Executive
Management team covering the areas of Investment, Finance and Governance, Member
and Employer Services, and Marketing and Business Development.
Director and Executive Management
Remuneration
Helping locals
with their super is
important to us.
Cape York
AustSafe Super Directors are paid a fee for preparing for and attending Board and
Board Committee meetings. Directors are paid a base fee as a Board Director, and
an additional fee for each Committee to which they are appointed. Directors are also
reimbursed for expenses incurred while attending meetings and other AustSafe Super
organised events.
Far North Queensland
With regard to Executive Management, AustSafe Super operates a remuneration strategy
that recognises its position in the industry fund sector and ensures staff are recognised
for their individual contribution to the organisation.
Details of remuneration for Directors and Executive Management are available on
AustSafe Super’s website. There is also a range of other information about the Fund
and its Management, including the qualifications and experience of the Directors
and Executive Management, a record of Directors’ attendance at Board meetings,
information about our conflict of interest management policy and our proxy voting
arrangements and details of significant event notices issued in the past two years.
Anthony Brick
Based in Townsville
North Queensland
Townsville
Jamie Woods
Based in Mackay
Executive Management Team
Mr Craig Stevens CEO
Mr Simon Mather Head of Investments
Vacant Position Head of Finance and Governance
Mr Wayne Oxenford Acting Head of Member and Employer Services
Noosa
Mr Matthew Hogno Head of Marketing and Business Development
Gold Coast
Central Queensland
Rockhampton
Stacey Watson
Based in Bundaberg
Southern Queensland
Bruce Waltisbuhl
Based in Brisbane
Northern NSW
Newcastle
Paul Meredith
Based in Newcastle
Southern NSW
& Victoria
Michael Wynne
Based in Wagga Wagga
Portland
Melbourne
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AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Member Profile
Member Profile
Choice is important
Born and raised in Bundaberg, Shaun and his
wife recently moved back to Bundaberg to set
up base with their two children, following a career
working in the mines as an auto electrician.
Shaun is a hard-working employee of Donovan Family
Investments, dedicated to growing and distributing avocados, with
their central packing house located in Bundaberg.
Shaun spends his days at Donovans looking after the maintenance
and repairs of the equipment. “I really enjoy working at Donovans,
it’s a really good place to work with lots of job satisfaction.”
AustSafe Super
Member Profile
Name: Location: Shaun
Bundaberg
Even though retirement is still a long way away, Shaun knows the
importance of retirement savings and made a choice when it came
to his super fund.
“When I started out in the agriculture industry, AustSafe Super was
the default fund for most of my previous workplaces. After a few
jobs, I recognised the strong performance of the Fund, so from
then, I decided to stay with AustSafe Super.”
AustSafe
Super just
seemed the
right fit for
me.
“Another reason for staying is that they are the Industry SuperFund
for the agriculture industry and with my background, it just
seemed the right fit for me.”
Local Regional Manager:
Stacey Watson
“Stacey, my local Regional Manager helped me roll over other
super accounts I had into my AustSafe Super account and
improve my current insurance cover. With Stacey’s help, this
process was easy.”
Away from the workplace, Shaun enjoys water-skiing and cricket,
along with a variety of other sports.
s
Indu try S
al
tS afe S u pe
r
A
us
un
er F d •
up
• Your Loc
16
After a few jobs, I recognised the
strong performance of the Fund,
so from then, I decided to stay with
AustSafe Super.
17
18
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Investment Overview
Investment Overview
Investment Overview
Simon Mather
Head of Investment’s Commentary
The global markets continued to gradually recover over the
2013/14 financial year, with strong returns from most asset
classes. The Australian and International Equity markets delivered
double digit returns, for the second year in a row.
This strong performance from equities benefited the AustSafe
Super MySuper (Balanced) Investment Option, which returned
12.62% for Accumulation members and the Balanced Investment
Option, which returned 13.17% for Pension members.
During the financial year, the Trustee of AustSafe Super continued
to feel there was better value in International Equities as growth,
although gradual, in the global economies continued. The Trustee
maintained the Fund’s increased allocation to International
Equities and decreased allocation to Australian Equities. This
helped the Fund’s overall performance as growth in the global
economy helped International Equities outperform Australian
Equities during the financial year.
The Fund’s allocation to fixed interest and infrastructure also
contributed to the strong performance of the Fund and helped
reduce overall volatility.
The fall in the Australian dollar during the first six months of the
financial year against the US dollar made a positive contribution
to performance of the Fund. However, during the last six months
of the financial year, the strength in the Australia dollar moderately
impacted performance of overseas assets.
Cash rates in Australia
The Reserve Bank of Australia (RBA) lowered the official cash rate
during the financial year by 0.25% (to 2.50%), due to concerns
of below trend growth, higher unemployment and the effect of
inflationary pressures on the economy.
In a continued environment of low interest rates, equities paying
higher levels of income were once again sought after by investors
during the financial year. The sectors which performed strongly
were technology, materials, energy and financials.
Global events
Globally, markets experienced strong returns for the year with
a number of key events impacting the global recovery both
positively and negatively:
§§ In July 2013, global bond markets were impacted by
comments from the US Federal Reserve, stating tapering
of monetary stimulus was likely to happen sooner than
expected.
§§ In October 2013, the US Government went into partial
shutdown for 16 days as Congress failed to reach an
agreement to approve Government spending.
§§ In January 2014, the US Government started tapering its
monthly stimulus by $US10 billion to $US75 billion.
§§ In February 2014, concerns intensified about China’s shadow
banking system after the Chinese Government allowed a
default by one of its lenders raising worries of more to follow.
§§ In March 2014, the Reserve Bank of New Zealand became
the first developed economy to raise its official interest rate
since the Global Financial Crisis (GFC).
§§ In June 2014, the European Central Bank introduced negative
deposit rates in a bid to make it less attractive for people
to save and more attractive to borrow. At the same time the
Bank of England signalled the likelihood of an interest rate
rise later in 2014.
Events likely to affect ongoing
investor sentiment and
confidence
The outlook for the global economy is of continued improvement
over the 2014/15 financial year, led by stronger growth in the
advanced economies. The International Monetary Fund (IMF)
forecasts global economic growth to average around 3.4% in
2014 and 4.0% in 2015. As conditions continue to recover in
the global economy, more central banks are expected to start to
increase interest rates, although only gradually. The US Federal
Reserve is expected to keep rates unchanged during 2014, with
the first increase expected late 2015 and its monthly stimulus
program may cease as early as the end of 2014.
The rally in global equity markets over the past financial year
has pushed a number of these above their estimated fair value.
Consequently, moderate returns are expected in 2014/15, and
are dependent on the recovery in global economies, a catalyst to
improving company earnings.
In Australia, the RBA forecasts that growth will pick up in 2014,
however, the slowdown in mining investment could weigh on
prospects for growth during 2014/15. Lower interest rates will
likely continue to fuel housing market activity and household
debt, however, consumer spending is likely to be constrained
by softer labour market conditions. For the Australian economy
to continue to improve and transition away from a mining led
economy an improvement is required in non-mining business
sectors.
AustSafe Super’s long
term view
Despite expectations that there will likely be periods of
uncertainty in the Australian and global economies, AustSafe
Super continues to focus on managing investments for the
longer-term, while looking for any short-term opportunities
that will potentially add value for members. Accordingly the
Trustee is currently looking beyond traditional asset classes for
opportunities to support investment returns for members.
Local economy is not all it seems
The Trustee has considered for some time that there have been headwinds facing
the Australian economy. These headwinds include the reduction in mining related
investment, Australia’s competitiveness with the rest of the world and the high
Australian dollar.
China, Australia’s biggest export market, has shown some signs of slowdown
in growth particularly in Fixed Asset Investment (FAI) such as infrastructure and
property. Australia’s two biggest exports, iron ore and coal, have been the main
beneficiaries of China’s FAI but as China starts to move more towards a consumer
driven growth story, this is likely to put further downward pressure on the local
economy.
For the Australian economy to continue to grow the transition away from
the mining investment boom will require a significant pick-up in non-mining
business sectors. There are some early indicators the outlook is improving,
but improvement in competitiveness, profitability and a sustained period of
low interest rates will be essential for the recovery to gain hold. The Reserve
Bank of Australia (RBA) has left interest rates at 2.5% since August 2013, when
rates decreased by 0.25% following concerns of below trend growth and rising
unemployment. The RBA has stated their desire, on more than one occasion that
the Australian dollar needs to weaken from current levels. However, the longer the
US Federal Reserve pacifies the market with expectations that rates in the US will
stay lower for longer makes it harder for the RBA to manage. The strong Australian
dollar has been led by the strong demand from overseas investors for higher
yielding Australian assets such as, fixed interest and higher yielding shares.
The Australian Federal Budget released in May 2014 included tough measures to
reduce Australia’s deficit, estimated to be $29.8 billion, or 1.8% of gross domestic
product (GDP). While this seems a significant deficit, it’s an improvement on the
$49.9 billion, or 3.1% of GDP estimated for the 2013/14 financial year. The impact
on the economy from deficit reduction measures is estimated at around 0.5%
for both 2014/15 and 2015/16 financial years. While this reduction in growth is
not insignificant, it’s unlikely to be enough to alter the RBA’s views on current
monetary policy.
Future environment for members
The Trustee’s expectation is that economic growth may be subdued, and going
forward this will likely lead to a reduction in the significant returns experienced
from asset classes over the last two years. In a low growth low return environment,
the Trustee is conscious not to purchase assets outside of the Fund’s risk appetite
and to actively manage the current allocation of assets, while looking for new
assets at attractive valuations.
This article has been prepared and issued by Austsafe Pty Ltd the Trustee of AustSafe Super. While it has
been prepared with all reasonable care, no responsibility or liability is accepted for any errors, omissions or
misstatements however caused. All forecasts and estimates are based on assumptions. If those assumptions
change, our forecasts and estimates may also change. The opinions in this article are those of Simon Mather,
Head of Investments.
AustSafe Super’s
commitment to
members
The Trustee believes the best way
to deal with uncertainties in the
local and global economies is to
maintain a diversified portfolio of
assets for members. Over the last 18
months, the Trustee has maintained
the Fund’s aggregate allocation to
equities. However, given the ongoing
concerns surrounding the local
economy, an increased allocation
of International Equities and lower
allocation of Australian Equities has
been maintained.
The Fund also invests, through a
number of Investment Managers, in
infrastructure and property. These
assets provide two sources of return,
growth and income. The income yield
combined with the unlisted nature
of the investments reduces volatility,
and can provide a more stable return
profile than listed equities. Currently,
there are limited opportunities
to purchase property assets at
reasonable valuations and vacancy
rates are forecast to increase. This
has meant that the Fund has a lower
allocation to property opposed to its
long-term asset allocation.
19
20
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Investment Objectives and Strategies
Investment Objectives and Strategies
Investment Objectives and Strategies
Investment strategy
Investment options
In formulating, reviewing and giving effect to the investment
strategy, the Trustee considers the whole of the Fund and
each investment option with the target to maximise benefits
available to members and to comply with all applicable legislative
requirements. The Fund’s investments are managed having
regard to the risks involved in making, holding and realising
investments, and the extent to which the composition of the
Fund’s investments provides diversity. They are also managed
with a view to ensuring that there is sufficient liquidity to meet
expected cash flow requirements and the ability to meet existing
and prospective liabilities. The Trustee also has regards to the
availability of reliable valuation information in relation to the
investments covered by its strategy, the costs that might be
incurred and other relevant matters.
AustSafe Super offers nine investment options, across a range
of investment types in order to provide choices to best suit
members’ needs with differing return and risk tolerances and
preferences. The Trustee engages JANA Investment Advisers
Pty Ltd to assist in setting investment objectives and managing
investments to meet them, while remaining within the agreed
asset allocation ranges.
Investment objectives for each investment option are available on
pages 26-29.
How investments are managed
In order to achieve specified return and risk targets the Trustee
sets and continually monitors the strategic asset allocation for
each of the Fund’s ready-made options in line with their long
term objectives and determines acceptable ranges for each
of the options. The Trustee utilises investments in Australian
Equities, International Equities, Property, Infrastructure, Growth
Alternatives and Defensive Alternatives, Fixed Interest and Cash
in constructing investment options. The Fund internally manages
the placement of funds in Term Deposits with Approved Deposittaking Institutions (the Cash asset class).
The Trustee does not require its appointed Investment Managers
to consider labour standards or environmental, social and ethical
investment considerations when choosing how to invest your
Super.
Investment specialists that
assist AustSafe Super
The Trustee retains the services of a professional investment
consultant JANA Investment Advisers Pty Ltd, to provide
guidance in the selection of Investment Managers who then
invest the assets of the Fund within specified limits. The Fund
employs Investment Managers with the objective of actively
seeking investment returns to at least meet each option’s return
objective within agreed risk parameters.
The Fund may employ specialist Investment Managers for
specific asset sectors and may also undertake tactical asset
allocation management. The Fund may also employ passive
Investment Managers in those asset classes where the expected
return after fees from active management is not sufficient to
justify the risks taken or where a core return, supplemented by
active management, is required.
The Standard Risk Measure is not a complete assessment of all
forms of investment risk. For instance, it does not detail what the
size of a negative return could be, or the potential for a positive
return to be less than you may require to meet your objectives.
Also, it does not take into account the impact of administration
fees and tax on the likelihood of a negative return. You need to
ensure you are comfortable with the risks and potential losses
associated with your chosen investment option/s.
Reserving
Over the past three years, AustSafe Super’s reserve has been:
Year ending
Balance of
Reserve
Percentage of total net
assets
30 June 2014
$24,463,721
1.442%*
30 June 2013
$24,029,398
1.610%
30 June 2012
$13,972,041
1.181%
Derivatives
The Standard Risk Measure used for each of our investment
options on pages 26-29 of this Annual Report have been
calculated by JANA Investment Advisers Pty Ltd and reviewed
and adopted by AustSafe Super.
The Fund does not directly invest in derivatives (eg. Futures and
Options). However, Investment Managers are permitted to use
Futures, Options and other derivative instruments to assist with
the effective management of the Fund’s assets.
How investment earnings are
applied to members’ account
The investment strategy for reserves is the strategy for the
MySuper (Balanced) Investment Option, which is reviewed as part
of the annual review of the Fund’s investment strategy.
About earning rates
When a member leaves the Fund
The Trustee expects, over the long term, the use of these
instruments to enhance the returns and manage risks on the
Fund’s assets. However, over the short term, the effect on
investment returns is expected to vary.
The Trustee is satisfied that each Investment Manager’s derivative
risk statement is consistent with the requirements of AustSafe
Super’s investment policy.
How we measure risk
AustSafe Super uses a Standard Risk Measure to describe the
risk that applies to each of our investment options. The Standard
Risk Measure is based on industry guidance to allow you to
compare investment options that are expected to have a similar
risk of negative annual returns over any 20 year period.
Each investment option is given a risk label as outlined in the
table below.
For example, the Standard Risk Measure for the MySuper
(Balanced) Investment Option detailed on page 26, is ‘High’ as
the estimated likelihood of a negative annual return is currently
4.1 years in every 20 years.
Risk band
Risk label
1
2
The Trustee calculates the earnings (or returns) on the assets
that make up each of the Fund’s investment options each week.
As part of the calculations, the fees and taxes that apply to the
investments are deducted to obtain the net earnings. At the
same time, the Fund also takes out the 0.09% p.a. member
administration fee. The final result each week is called the ‘weekly
earning rate’ and one is produced for each investment option.
A weekly earning rate for an investment option can be positive or
negative, depending on how the investments that make up each
option’s portfolio have performed for that week.
Investment earnings are added (or deducted if earnings are
negative) to members’ account as at 30 June each year or when
members exit the Fund. Members’ earnings are calculated by
applying the weekly earning rates to members’ daily account
balance. Members’ account balances will have administration
fees and if applicable, any taxes and insurance premiums
deducted from it.
The Fund’s weekly earning rates are available at austsafe.com.au.
If members receive a benefit payment
Estimated number of
negative annual returns
over a 20 year period
The investment earnings applied to a member’s account balance
when the Fund pays a benefit, covers the period from the latest 1
July to when the benefit is paid.
Very low
Less than 0.5
Low
0.5 to less than 1
1 to less than 2
It takes around 10 days for the weekly earning rates for each
investment option to be calculated as information needs to be
obtained and collated from many sources. For this reason, there
are two steps to calculating members’ earnings when benefits
are paid.
3
Low to medium
4
Medium
2 to less than 3
5
Medium to high
3 to less than 4
6
High
4 to less than 6
7
Very high
6 or greater
First, the Fund uses the weekly earning rates for a member’s
investment option/s for each full week of earnings the Fund has.
Second, for the remaining days (between the end of the week
that the Fund has final earning rates for and the day the Fund
pays your benefit) the Fund uses an interim rate. This interim rate
is fixed each quarter and based on the interest rate of the Fund’s
operating bank account.
*Subject to audit confirmation
When a member leaves the Fund during the financial year,
earnings are applied to their account for the period they were a
member of the Fund. Earnings are applied using the earning rate
for each complete week and an interim earning rate for the period
from the last earning rate to the day of exit.
21
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Pension Profile
Pension Profile
On track for the future
When it comes to planning a successful
retirement, Ian Waters has his future sorted out.
AustSafe Super
Pension Profile
Name: Location: Ian
Bundaberg
Born in Wondai, Ian has had a widespread career, setting up his
own businesses as a butcher in the 1960s in Nanango, Kingeroy
and Bundaberg. Following this, Ian started up his own herb
and seedling nursery business in the 1970s. Ian then set up his
current base at Hinkler Park Macadamia Plantation, where he has
worked for the past 18 years. Hinkler Park Plantation produces
and distributes macadamias to niche companies, market leading
manufacturers and exports to overseas markets.
“I love my job, and I guess the true testament to this is the fact that
I’ve only had about ten days off since I’ve been here – the team
is great.”
When he’s not at Hinkler Park working on the new development
and expansion, Ian is a member and the President of Bundaberg
Drum Corps. Ian plays the tenor drum and has marched in
Toowoomba, Stanthorpe, and Brisbane at Anzac Day parades.
Local Regional Manager:
Stacey Watson
While retirement is still a few years away, Ian is on track having
set up a Transition to Retirement Pension, and is well placed for
whatever the future might bring.
AustSafe Super
helped me to
understand how
it all works.
“AustSafe Super helped me to understand how it all works.”
“Stacey, my local Regional Manager, has been helping me with my
super – she’s a local around here which is important to me when it
comes to my super.”
“I chose AustSafe Super as my super fund because it’s the industry
super fund for the agriculture industry, and they’re all about
the locals.”
When he does retire, Ian is looking forward to devoting more time
to repairing his vintage 1948 Morris Z Ute.
try Su
dus
pe
In
Au
pe
r
und •
rF
ur Local
Yo
AustSafe Super is my super fund
because it’s the Industry SuperFund
for the agriculture industry, and
they’re all about the locals.
•
22
u
stS afe S
23
24
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Investment Options
AustSafe Super
Member Mark
Wooldridge
works at the
local golf course
in Bundaberg,
Queensland.
Investment Options
Investment Options as at 30 June 2014
AustSafe Super offers nine investment options across
a range of investment types. These options include
Ready-Made and Single Asset Class options.
Our investment options
Ready-Made Options
These options are made up of more than one investment type and are pre-mixed to
provide diversification.
§§ MySuper (Balanced) – default option for Industry Super and Personal
Super members
§§ Balanced – available for Pension members only
§§ Super Growth
§§ Capital Stable
§§ CRF Capital Stable*
*The CRF Capital Stable Investment Option will be open to all members from 17 November 2014.
Single Asset Class Options
These options invest in one single asset class and can be mixed to build your own
investment strategy based on your individual needs and objectives.
§§ Australian Equities
§§ International Equities
§§ Property
§§ Fixed Interest
§§ Cash
§§ Bank Cash#
#
As an industry super fund, we always
put our members first. This is supported
by our low fees, consistent long-term
performance, flexibility of default level
insurance and access to a range of
member benefits.
The Bank Cash Option was closed on 6 December 2013.
25
26
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Investment Options
Investment Options
Ready-Made Options
These options are diversified across a range of asset classes.
MySuper (Balanced)
Balanced
(Default option for Industry and
Personal Super members)
(Option available for Pension
members only)
This option is designed for members who want
diversification across a range of asset classes
with a balance of risk and return.
This option is designed for members who want
diversification across a range of asset classes
with a balance of risk and return.
Investment Objective
Ready-Made Options
Super Growth
Capital Stable
CRF Capital Stable
This option invests mostly in growth assets
allowing members to maximise their returns in
the longer term.
This option has a stable pattern of returns and
at the same time a conservative strategy which
aims to provide moderate returns.
This option has a conservative investment
strategy which expects stable, but
moderate returns.
Investment Objective
Investment Objective
Investment Objective
Investment Objective
To achieve high returns over the longer term,
but with moderate to high risk. The objective is
for earnings to exceed inflation (CPI) by at least
3% p.a. averaged over rolling 10 year periods.
To achieve high returns over the longer term,
but with moderate to high risk. The objective is
for earnings to exceed inflation (CPI) by at least
3% p.a. averaged over rolling 10 year periods.
To achieve high returns over the longer term.
The objective is for earnings to exceed inflation
(CPI) by at least 5% averaged over rolling
7 year periods.
To achieve attractive but stable returns on a
consistent basis with low volatility. The objective
is for earnings to exceed inflation (CPI) by at
least 2% averaged over rolling 5 year periods.
To achieve attractive but stable returns on a
consistent basis with low volatility. The objective
is for earnings to exceed inflation (CPI) by at
least 2% averaged over rolling 5 year periods.
The current rolling 10 year performance is
6.97% against and objective of 5.77%.
The current rolling 10 year performance is
7.59% against and objective of 5.77%.
The current rolling 10 year performance for
Accumulation is 7.16% against and objective
of 7.77%.
The current rolling 5 year performance for
Accumulation is 7.46% against and objective
of 4.65%.
The current rolling 10 year performance for
Pension is 7.71% against and objective of
7.77%.
The current rolling 5 year performance for
Pension is 8.45% against and objective of
4.65%.
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
The estimated likelihood of a negative annual
return is 4.1 years in every 20 years.
The estimated likelihood of a negative annual
return is 4.1 years in every 20 years.
The estimated likelihood of delivering a negative
return is 4.9 years in every 20 years.
The estimated likelihood of a negative return is 1.5
years in every 20 years.
The estimated likelihood of a negative return is 2.1
years in every 20 years.
Risk Band And Level
Risk Band And Level
Risk Band And Level
Risk Band And Level
Risk Band And Level
6, High
6, High
6, High
3, Low to Medium
4, Medium
This option suits
This option suits
This option suits
This option suits
This option suits
Members who are prepared to accept short
term movements in investment market returns
to obtain reasonable medium term returns.
Members who are prepared to accept short
term movements in investment market returns
to obtain reasonable medium term returns.
Members who can withstand high short term
volatility in the pursuit of higher returns over the
long term.
Members who are prepared to accept short
term market volatility to obtain reasonable
medium term returns.
Members who are prepared to accept short
term market volatility to obtain reasonable
medium term returns.
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Asset Class








Target Asset
Allocation (%)
Australian Equities
International Equities
Growth Alternatives
Infrastructure
Property
Defensive Alternatives
Fixed Interest
Cash
30%
27%
4%
9%
10%
2%
13%
5%
Range
(%)
20-50
15-35
0-12
2-20
2-20
0-10
5-25
0-10
Asset Class








Target Asset
Allocation (%)
Australian Equities
International Equities
Growth Alternatives
Infrastructure
Property
Defensive Alternatives
Fixed Interest
Cash
30%
27%
4%
9%
10%
2%
13%
5%
Range
(%)
20-50
15-35
0-12
2-20
2-20
0-10
5-25
0-10
Asset Class








Target Asset
Allocation (%)
Australian Equities
International Equities
Growth Alternatives
Infrastructure
Property
Defensive Alternatives
Fixed Interest
Cash
38%
36%
9%
6%
10%
0%
0%
1%
Range
(%)
30-60
20-50
5-25
2-20
5-25
0-5
0-5
0-15
Asset Class








Target Asset
Allocation (%)
Australian Equities
International Equities
Growth Alternatives
Infrastructure
Property
Defensive Alternatives
Fixed Interest
Cash
15%
10%
2%
3%
10%
5%
15%
40%
Range
(%)
0-20
0-20
0-10
0-10
0-20
0-10
10-40
0-50
Investment Timeframe
Investment Timeframe
Investment Timeframe
Investment Timeframe
At least 5 years.
At least 5 years.
5 – 7 years or more.
1 – 3 years.
Performance
Performance
Performance
Performance
Year Accumulation
ending return#
30/06/1412.62%
30/06/1316.15%
30/06/120.51%
30/06/118.94%
30/06/1010.22%
5 year average (p.a.)
9.56%
Average since inception (p.a.)*
9.40%
Year Pension
ending return
30/06/1413.17%
30/06/1317.95%
30/06/120.08%
30/06/1110.02%
30/06/1011.28%
5 year average (p.a.)
10.34%
Average since inception (p.a.)*
7.50%
Year Accumulation Pension
ending return#return
30/06/14
14.88%15.38%
30/06/13
19.35%21.11%
30/06/12
-1.44%-1.51%
30/06/11
9.02%9.86%
30/06/10
11.56%12.60%
5 year average (p.a.)
10.45% 11.23%
Average since inception (p.a.)* 6.86%
7.41%
Year Accumulation Pension
ending return#return
30/06/14
7.72%8.16%
30/06/13
9.29%10.69%
30/06/12
3.28%3.78%
30/06/11
7.77%8.98%
30/06/10
9.37%10.82%
5 year average (p.a.)
7.46%
8.45%
Average since inception (p.a.)* 5.86%
6.52%
Past performance is not an indication of future performance. ‘Average’ means the compound average of the net earning rates applied to members. Asset allocation ranges and targets are
current as at 30 June 2014.
*Inception for MySuper (Balanced) Accumulation option, previously known as the Balanced Investment option was 31 August 1988. Inception for Balanced Pension option was 1 July
2002. Inception for Super Growth Accumulation and Pension options was 1 July 1999 and 1 July 2002 respectively.
#
Accumulation Return relates to the return achieved on AustSafe Super Industry Super and Personal Super options.
Asset Class
Target Asset
Allocation (%)
 Australian Equities
 International Equities
 Growth Alternatives
 Infrastructure
 Property
 Defensive Alternatives
 Fixed Interest
 Cash
20%
10%
0%
5%
10%
0%
40%
15%
Range
(%)
15-25
5-15
0-5
0-10
5-15
0-5
15-45
5-25
Investment Timeframe
At least 5 years.
Performance
Year Accumulation Pension
ending return#return
30/06/14
9.37%10.85%
30/06/13
0.03%-0.04%
30/06/12
n/an/a
30/06/11
n/an/a
30/06/10
n/an/a
5 year average (p.a.)
n/a
n/a
Average since inception (p.a.)*
n/a
n/a
The Fund has
continued to deliver
strong investment
outcomes with a
return of 12.62%
for the MySuper
(Balanced) Investment
Option for the year to
30 June 2014.
Craig Stevens, CEO
Note: The CRF Capital Stable Investment Option will be
open to all members from 17 November 2014.
Past performance is not an indication of future performance. ‘Average’ means the compound average of the net earning rates applied to members. Asset allocation ranges and targets are
current as at 30 June 2014.
*Inception for Capital Stable and CRF Capital Stable Accumulation options was 1 July 1999 and 1 April 2013 respectively. Inception for Capital Stable and CRF Capital Stable Pension
options was 1 July 2002 and 1 April 2013 respectively.
#
Accumulation Return relates to the return achieved on AustSafe Super Industry Super and Personal Super options.
27
28
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Investment Options
Investment Options
Single Asset Class Options
hese options invest in one single asset class and can be mixed to build a member’s
T
own investment strategy based on their individual needs and objectives.
Single Asset Class Options
hese options invest in one single asset class and can be mixed to build a member’s
T
own investment strategy based on their individual needs and objectives.
Australian Equities
International Equities
Property
Fixed Interest
Cash
Bank Cash
This option invests only in Australian Shares and
is expected to experience a moderate to high
level of volatility.
This option invests only in shares outside
Australia and will experience a moderate to high
level of volatility.
This option invests only in property, directly and
through property trusts, and is expected to
experience moderate to high level of volatility.
This option invests solely in fixed interest
instruments such as Government and corporate
bonds and bank loans. It has a lower risk than
shares or property but can provide a higher
long-term return than cash.
This option invests in cash only and is generally
a secure investment with a very low risk profile.
Returns may be lower over the longer term.
This option invests in deposits with major
domestic banks. There is some risk that returns
may not keep up with inflation.
Investment Objective
Investment Objective
Investment Objective
Investment Objective
Investment Objective
Investment Objective
To achieve a return, before tax and fees that
exceeds the S&P/ASX300 Accumulation Index
over rolling 3 year periods.
To achieve a return, before tax and fees that
exceeds 50% MSCI World ex-Australia Index
and 50% MSCI World ex-Australia (Hedged)
over rolling 3 year periods.
To achieve a return before tax and fees that
exceeds the Mercer Australian Unlisted Property
Index over rolling 3 year periods.
To achieve a return, before tax and fees that
exceeds the 50% UBS Composite Bond Index
(total) and 50% Citigroup G5 Bond Index
(hedged) over rolling 3 year periods.
To achieve consistent stable returns with low
volatility. Earnings should exceed inflation
(as measured by the Consumer Price Index)
over rolling annual periods.
The Bank Cash Investment Option was closed
on 6 December 2013.
The current rolling 3 year performance for
Accumulation is 7.09% against and objective
of 7.42%.
The current rolling annual performance for
Accumulation is 3.02% against and objective
of 2.68%.
The current rolling 3 year performance for
Pension is 8.33% against and objective of
7.42%.
The current rolling annual performance for
Pension is 3.62% against and objective of 2.68%.
The current rolling 3 year performance for
Accumulation is 7.96% against and objective
of 9.95%.
The current rolling 3 year performance for
Pension is 8.35% against and objective of
9.95%.
The current rolling 3 year performance for
Accumulation is 13.87% against and objective
of 16.80%.
The current rolling 3 year performance for
Pension is 15.03% against and objective of
16.80%.
The current rolling 3 year performance for
Accumulation is 7.10% against and objective
of 7.27%.
The current rolling 3 year performance for
Pension is 7.50% against and objective of
7.27%.
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
Standard Risk Measure
The estimated likelihood of a negative return is
6.2 years in every 20 years.
The estimated likelihood of a negative return is
5.8 years in every 20 years.
The estimated likelihood of a negative return is
3.7 years in every 20 years.
The estimated likelihood of a negative return is
2.2 years in every 20 years.
The estimated likelihood of a negative return is
nil in every 20 years.
The estimated likelihood of a negative return is
nil in every 20 years.
Risk Band And Level
Risk Band And Level
Risk Band And Level
Risk Band And Level
Risk Band And Level
Risk Band And Level
7, Very High
7, Very High
5, Medium to high
4, Medium
1, Very low
1, Very Low
This option suits
This option suits
This option suits
This option suits
This option suits
This option suits
Members who are seeking high returns over the
long term from Australian shares only and can
tolerate the short term volatility, or are building
their own mix of investments by combining this
option with others.
Members who are seeking high returns over
the long term from International shares only
and can tolerate the short term volatility, or
are building their own mix of investments by
combining this option with others.
Members who are seeking lower volatility,
steady income returns from Property only, or
are building their own mix of investments by
combining this option with others.
Members who prefer low volatility in pursuit of
moderate returns over a short to medium term,
or are building their own mix of investments by
combining this option with others.
Members seeking to minimise their investment
risk over the short term, or are building their
own mix of investments by combining this
option with others.
Members seeking the security of bank deposits,
or are building their own mix of investments by
combining this option with others.
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Target Asset Allocation
Asset Class
 Australian Equities
 Cash
Target Asset
Allocation (%)
100%
0%
Range
(%)
95-100
0-5
Asset Class
Target Asset
Allocation (%)
 International Equities
 Cash
100%
0%
Range
(%)
95-100
0-5
Asset Class
Target Asset
Allocation (%)
 Property
 Cash
100%
0%
Range
(%)
95-100
0-5
Asset Class
 Fixed Interest
 Cash
Target Asset
Allocation (%)
100%
0%
Range
(%)
95-100
0-5
Asset Class

Target Asset
Allocation (%)
Cash
100%
Range
(%)
100
Asset Class

Target Asset
Allocation (%)
Bank Deposits
100%
Range
(%)
100
Investment Timeframe
Investment Timeframe
Investment Timeframe
Investment Timeframe
Investment Timeframe
Investment Timeframe
5 – 7 years or more.
5 – 7 years or more.
At least 5 Years.
1 – 3 years.
No minimum timeframe.
No minimum timeframe.
Performance
Performance
Performance
Performance
Performance
Performance
Year Accumulation Pension
ending return#return
30/06/14
16.35%16.82%
30/06/13
16.81%18.17%
30/06/12
-7.41%-7.86%
30/06/11
10.93%11.80%
30/06/10
13.58%14.54%
5 year average (p.a.)
9.66% 10.25%
Average since inception (p.a.)* 3.77%
4.07%
Year Accumulation Pension
ending return#return
30/06/14
18.73%19.85%
30/06/13
27.57%30.63%
30/06/12
-2.51%-2.79%
30/06/11
6.44%7.27%
30/06/10
12.83%14.25%
5 year average (p.a.)
12.14% 13.28%
Average since inception (p.a.)* 2.04%
2.13%
Year Accumulation Pension
ending return#return
30/06/14
4.03%3.73%
30/06/13
9.24%10.07%
30/06/12
8.10%8.81%
30/06/11
9.58%10.43%
30/06/10
0.22%0.29%
5 year average (p.a.)
6.17%
6.59%
Average since inception (p.a.)* 3.51%
3.97%
Year Accumulation Pension
ending return#return
30/06/14
6.65%7.87%
30/06/13
6.73%7.92%
30/06/12
7.88%9.22%
30/06/11
7.96%9.43%
30/06/10
14.29%17.00%
5 year average (p.a.)
8.67% 10.24%
Average since inception (p.a.)* 7.14%
8.43%
Year Accumulation Pension
ending return#return
30/06/14
3.02%3.62%
30/06/13
3.85%4.58%
30/06/12
4.55%5.37%
30/06/11
4.98%5.91%
30/06/10
3.75%4.42%
5 year average (p.a.)
4.03%
4.78%
Average since inception (p.a.)* 4.59%
5.47%
Year Accumulation Pension
ending return#return
30/06/14
1.25%1.51%
30/06/13
3.55%4.28%
30/06/12
4.25%5.07%
30/06/11
4.68%5.61%
30/06/10
3.48%4.11%
5 year average (p.a.)
n/a
n/a
Average since inception (p.a.)*
n/a
n/a
Past performance is not an indication of future performance. ‘Average’ means the compound average of the net earning rates applied to members. Asset allocation ranges and targets are
current as at 30 June 2014.
*Inception for Australian Equities, International Equities and Property Accumulation and Pension options was 1 January 2007.
#
Accumulation Return relates to the return achieved on AustSafe Super Industry Super and Personal Super options.
Past performance is not an indication of future performance. ‘Average’ means the compound average of the net earning rates applied to members. Asset allocation ranges and targets are
current as at 30 June 2013.
*Inception for Fixed Interest, Cash and Bank Cash Accumulation and Pension options was 1 January 2007, 1 July 2004 and 1 February 2009 respectively.
#
Accumulation Return relates to the return achieved on AustSafe Super Industry Super and Personal Super options.
29
30
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
How Your Money Is Invested
How Your Money Is Invested
30-Jun-14
30-Jun-13
$ Market
Value
% of Total
Investment
$ Market
Value
% of Total
Investment
HarbourVest - Dover Street VII LP
41,734,611
2.51%
51,574,109
3.52%
HarbourVest - Dover Street VIII LP
12,015,143
0.72%
1,384,636
0.09%
Investment Manager
Growth Alternatives
How Your Money Is Invested
We engage the expertise of professional investment
consultants JANA Investment Advisers Pty Ltd (JANA) to assist
us in reviewing the investment objectives, strategy and asset
allocations for the Fund.
JANA provides analysis of the performance of the Fund’s
Investment Managers and assist us in finding new investment
managers or investment products, which meet our objectives
in delivering strong long-term superannuation returns for
our members.
We may appoint a particular investment manager during the
financial year to improve performance or for greater investment
diversification.
The AustSafe Super Investment Committee reviews all
recommendations from JANA and under the Board’s delegated
authority, appoints and terminates Investment Managers
having regard to the Fund’s investment objectives.
ING Private Capital Fund No.2
233,000
0.01%
333,600
0.02%
LaSalle TLET Fund
391,500
0.02%
1,703,268
0.12%
Siguler Guff Small Buyout Opportunities Fund
5,873,910
0.35%
-
0.00%
The Private Capital Group Private Capital Units III
5,460,134
0.33%
7,396,470
0.50%
Wilshire Private Markets Australia No.2 Fund
2,492,125
0.15%
2,552,170
0.17%
68,200,423
4.09%
64,944,253
4.42%
Property
AM60 Pty Ltd
1,239,301
0.07%
25,836,917
1.76%
49,382,330
2.97%
46,375,642
3.16%
1,430,799
0.09%
3,749,063
0.26%
LaSalle Australia Club Investments Trust - Home
Hub Hills
26,232,008
1.58%
25,092,485
1.71%
LaSalle Australia Core Plus Fund
31,711,810
1.91%
31,207,444
2.13%
AMP Capital Investors Australian Core Property
Portfolio
AMP Capital Investors Property Income Fund
Matisse Tower - Mary Street Brisbane
5,655,002
0.34%
6,647,276
0.45%
115,651,250
6.96%
138,908,827
9.47%
AMP Capital Investors Infrastructure Equity Fund
41,550,260
2.50%
38,998,161
2.66%
AMP Capital Investors Strategic Infrastructure
Trust of Europe
The Private Capital Group - The Infrastructure
Fund
The Private Capital Group - The Infrastructure
Fund B
25,290,826
1.52%
23,093,222
1.57%
63,822,580
3.84%
56,076,754
3.82%
268,218
0.02%
239,676
0.02%
130,931,884
7.88%
118,407,813
8.07%
The following Investment Managers have been appointed to manage members’ investments over the last year:
30-Jun-14
30-Jun-13
Infrastructure
$ Market
Value
% of Total
Investment
$ Market
Value
-
0.00%
35,807,899
2.44%
BlackRock Australian Equities Portfolio
103,240,413
6.21%
-
0.00%
Greencape Capital Australian Equity Portfolio
109,132,856
6.57%
92,467,223
6.30%
Integrity Investment Management Australian
Equities Portfolio
83,385,650
5.02%
71,850,711
4.90%
-
0.00%
16,418,862
1.12%
BlackRock Multi Opportunity Fund
20,615,910
1.24%
-
0.00%
QIC Global Fixed Interest Alpha Fund
35,767,396
2.15%
20,359,195
1.39%
56,383,306
3.39%
20,359,195
1.39%
-
0.00%
67,349,462
4.59%
74,002,452
4.45%
-
0.00%
Investment Manager
% of Total
Investment
Australian Equities
Allan Gray Australia Equity Fund
L1 Capital Australian Equities Fund
Northward Capital Australian Equities Portfolio
Defensive Alternatives
-
0.00%
3,146
0.00%
9,313,187
0.56%
-
0.00%
Paradice Investment Management Large
Companies Portfolio
89,441,362
5.38%
97,593,464
6.65%
Paradice Investment Management Mid Cap Fund
38,960,345
2.34%
33,393,306
2.28%
Bentham Wholesale Syndicated Loan Fund
Legg Mason Brandywine Global Fixed Income
Absolute Return Fund
Ophir Opportunities Fund
Paradice Investment Management Small Cap
Fund
-
0.00%
29,691,399
2.02%
433,473,813
26.08%
377,226,010
25.71%
Aberdeen International Equities Portfolio Currency
Hedge
623,897
0.04%
(3,749,839)
-0.26%
Causeway Capital Management LLC Gobal Equity
Portfolio
79,955,064
4.81%
65,020,590
4.43%
Delaware Investments Emerging Markets Fund
48,082,179
2.89%
40,786,095
2.78%
Investec Global Equities Portfolio
83,041,523
5.00%
-
0.00%
101,815
0.01%
71,339,774
4.86%
International Equities
Ironbridge Capital Management Global Equities
Portfolio
112,589,367
6.77%
100,270,820
6.84%
Platinum Investment Management Limited
International Fund
PanAgora Dynamic Global Equity Fund
98,168,037
5.91%
85,732,318
5.84%
T Rowe Price Asia Ex Japan Fund
31,771,090
1.91%
30,169,732
2.06%
454,332,972
27.34%
389,569,490
26.55%
Fixed Interest
Members Equity Super Loans Trust
Perennial Australian Fixed Interest Trust
932,091
0.06%
1,339,661
0.09%
69,484,148
4.18%
64,977,296
4.43%
Perennial Tactical Income Trust
46,969,547
2.83%
44,087,146
3.01%
PIMCO Global Bond Fund
65,054,263
3.91%
61,726,237
4.21%
256,442,501
15.43%
239,479,802
16.33%
9,115,271
0.55%
8,880,884
0.61%
Cash
Aberdeen Australian Floating Rate Income Fund
AMP Capital Guaranteed Fund
Various Term Deposits with Australian Deposittaking Institutions
Total ($000)
1,187,245
0.07%
1,169,812
0.08%
136,281,052
8.21%
108,056,354
7.37%
146,583,568
8.83%
118,107,050
8.06%
1,661,999,717
100.00%
1,467,002,440
100.00%
31
32
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Abridged Financial Statements
Abridged Financial Statements
Abridged Financial Statements
as at 30 June 2014
The abridged Financial Statements have been prepared prior to the completion of the audit. The figures are subject to change.
Members are able to request a full copy of the audited Financial Statements after 1 November 2014.
Operating Statement
for the year ended 30 June 2014
$
$
30 June 2014
30 June 2013
109,608,332
65,215,998
Movement in net market value of investments
90,388,907
144,035,896
Investment management fees
(7,531,151)
(4,361,179)
Total Investment Revenue
192,466,088
204,890,715
Contributions Revenue
Transfer from Canegrowers Retirement Fund
–
93,412,471
Employer contributions
131,297,394
122,013,495
Member contributions
20,899,537
11,248,629
Transfers from other funds
36,720,812
24,447,052
188,917,743
251,121,647
Total Contributions Revenue
Sundry Income
Total Other Revenue
Total Revenue
1,136,610
1,872,250
35,964
60,003
1,172,574
1,932,253
382,556,405
457,944,615
Operating Expenses
No TFN Contribution Tax and Surcharge Contributions Tax
Total Expenditure
Operating Surplus for the Period Before Tax
Less: Income Tax Expense
Benefits Accrued As A Result Of Operations
Australian Equities
433,473,813
377,226,010
Cash
146,583,568
118,107,050
Defensive Alternatives
Fixed Interest
Growth Alternatives
56,383,306
20,359,195
256,442,501
239,479,802
68,200,423
64,944,253
Infrastructure
130,931,884
118,407,813
International Equities
454,332,972
389,569,490
Property
115,651,250
138,908,827
1,661,999,717
1,467,002,440
5,664,765
4,330,711
55,204,521
35,412,328
483,218
523,137
61,352,504
40,266,176
1,723,352,221
1,507,268,616
2,671,205
3,241,871
Income Tax Payable
10,509,806
7,019,304
Deferred Tax Liabilities
14,012,944
4,838,308
Total Liabilities
27,193,955
15,099,483
Net Assets Available to Pay Benefits
1,696,158,266
1,492,169,133
1,656,109,937
1,455,931,253
15,737,878
12,208,482
1,671,847,815
1,468,139,735
24,310,451
24,029,398
1,696,158,266
1,492,169,133
Total Investments
Other Assets
Receivables
Fixed Assets
Total Other Assets
Total Assets
Liabilities
Expenditure
Group life insurance premiums
$
30 June 2013
Cash - Operating Account
Other Revenue
Group Life Insurance Proceeds
$
30 June 2014
Investments
Investment Revenue
Investment Income
Statement of Financial Position
as at 30 June 2014
9,605,846
2,743,457
11,880,717
10,600,460
(986,196)
880,643
20,500,367
14,224,560
362,056,038
443,720,055
37,426,181
30,396,487
324,629,857
413,323,568
Payables
Represented by:
Liability for Accrued Benefits
Allocated to Members’ Accounts
Not Yet Allocated
Vested benefits
Reserve
Total
33
34
AustSafe Super Annual Report 2014
AustSafe Super Annual Report 2014
Other Information
Other Information
Other information
A number of professional service providers assist us with
our operations. If we contract a service provider to provide a
business activity that is or could be undertaken by us in house
(i.e. performed by Trustee Office staff), this is referred to as
‘outsourcing’. For outsourcing of any material business activity
such as Administration, we must follow our Outsourcing Policy
which requires the completion of due diligence on the proposed
service provider and regular monitoring.
The Trustee also has a responsibility to ensure that its
arrangements with service providers and other associations do
not influence the financial services we provide. We do not believe
that our arrangements with any of the entities cited below or any
other service providers we use influence in any way the financial
services we provide to our members. Each service provider
is selected on its ability to perform relevant activities and is
monitored on a regular basis.
Administration
We contract Superpartners Pty Ltd (ABN 57 078 907 883) to
provide administration and call centre services to our members.
We pay Superpartners a fee for these services.
Insurer
AustSafe Super’s members’ insurance is provided by
CommInsure (a registered business name of The Colonial Mutual
Life Assurance Society Limited ABN 12 04 021 809).
Financial Planning
AustSafe Super has put in place an arrangement with Industry
Fund Services Limited (AFSL 232514, ABN 54 007 016 195)
so that personal financial planning advice can be provided to
AustSafe Super members on our behalf. No commissions are
paid to Industry Fund Services Limited by AustSafe Super.
Other key service providers are:
Auditor
BDO Audit (QLD) Pty Ltd
Tax Advisers
BDO QLD Pty Ltd
Ernst and Young
Investment Consultant
JANA Investment Advisers Pty Ltd
Custodian
National Asset Servicing (National Australia Bank Limited)
Eligible Rollover Fund
From time to time the Trustee may transfer inactive or low
account balances to an Eligible Rollover Fund called Australian
Unclaimed Superannuation Fund (AusFund). (As a guide, this
might be an account balance under $1,000 or an account that
has been inactive for over 12 months).
If your account balance is transferred, you will not have access
to any of AustSafe Super’s benefits such as insurance. If your
current address is on our records, you will be contacted in writing
before your balance is transferred.
You can contact AusFund at:
Phone Fax Web Email Mail 1300 361 798
1300 366 233
unclaimedsuper.com.au
[email protected]
PO Box 2468 Kent Town SA 5071
Enquiries and complaints
If you have a question about your membership or AustSafe
Super or superannuation in general, please contact us as per the
details on the back of this Annual Report. If you have a complaint
about any of the services provided to you, contact our Customer
Service Centre first, on 1300 131 293, or to lodge a complaint
write to:
The Complaints Officer
AustSafe Super
GPO Box 2273
Brisbane Qld 4001
We will treat your complaint with urgency and do everything
possible to resolve the issue as soon as possible. A response
to your complaint must be provided to you within 90 days. If
you are not satisfied with the way your complaint is handled,
or if we have not responded within 90 days, you can contact
the Superannuation Complaints Tribunal (SCT). The SCT is an
independent body set up to assist members or their beneficiaries
to resolve certain superannuation complaints. If your complaint
relates to a declined Total and Permanent Disablement claim
you have six years from the date it was declined to submit your
complaint to the Superannuation Complaints Tribunal (SCT). To
find out whether the SCT can handle your complaint and the type
of information you need to provide, you can contact it by:
Website Phone Address Locked sct.gov.au
1300 884 114
Superannuation Complaints Tribunal
Bag 3060 Melbourne VIC 3001
If your complaint is outside the jurisdiction of the SCT, you
may have the right to take your complaint to the Financial
Ombudsman Service (FOS) of which AustSafe Super is a
member. Its contact details are as follows:
Website Phone Address fos.org.au
1300 780 808
Financial Ombudsman Service
GPO Box 3 Melbourne VIC 3001
Working hard
at Withcott
Seedlings in
Withcott,
Queensland.
35
36
AustSafe Super Annual Report 2014
Other Information
AustSafe Super Annual Report 2014
Other Information
A couple enjoying
the sunrise
in Bargara,
Queensland.
37
For more information about
AustSafe Super visit our website
at austsafe.com.au or contact us
through one of the options below.
Industry Super and Personal Super Members
Phone 1300 131 293
between 7am – 6pm Monday to Friday
Fax 1300 882 138
Email [email protected]
Visit Level 10, 120 Edward Street,
Brisbane QLD 4000
Mail GPO Box 3113,
Brisbane QLD 4001
Pension Members
Phone
1800 701 145
Fax 1300 655 283
Email [email protected]
between 8:30am and 5:30pm Monday to Friday
Visit Level 10, 120 Edward Street,
Brisbane QLD 4000
PUBAR 0814 V1.0
Mail Locked Bag 200,
Carlton South VIC 3053

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