Future Super

Future Super is an Australian retail superannuation fund that offers superannuation services, focussing on zero fossil fuel investment and on holistically ethical investment with an emphasis on clean energy projects.[1] Established in 2014, Future Super services over 15,000 members Australia-wide and has over $900 million in funds under management.[2]

FutureSuper
TypeRetail Superannuation Fund, for-profit
IndustrySuperannuation
Founded2014
Headquarters
Sydney
,
Australia
Area served
Australia
Key people
Simon Sheikh, Founder and CEO,
Adam Verwey, Founder and MD Future Asset Management,
Kirstin Hunter, MD Future Super Services
Total assets$A900 million
Websitewww.myfuturesuper.com.au

Retail superannuation fund

As a retail super fund, Future Super is a for-profit fund with a transparent but multi-layered corporate setup. Future Superannuation Group Pty Ltd is the owner of Responsible Investment Services Pty Ltd (RIS). [3]


History

The Fund was set up by a group of activists headed by former head of GetUp, Simon Sheikh together with ethical investment expert Adam Verwey.[1] At 20 July 2019, the Fund has a pension fund, plus three superannuation investment options, all fossil-free and ethically driven. The three superannuation investment options are: Balanced Index, Renewables Plus Growth and Balanced Impact.[4]Most assets are held directly rather than via managed fund removing a layer of fees. However Future Super charged a management fee of 1.9% (at March 2017) which has been criticised as high.[5]


Fund administration

Future Super is the trading name of the Future Superannuation Group Pty Ltd. The Group holds 100% of the ownership of Responsible Investment Services Pty Ltd (RIS). RIS is a Corporate Authorised Representative of Future Super Asset Management Pty Ltd, and as such is responsible for promoting and for providing investment management, communications and member services for the Grosvenor Pirie Master Super Fund 2 (GPMSF-2). The Grosvenor Pirie Master Super Fund 2 is administered by OneVue Super Services Pty Limited.[6]

References
  1. "Our Story & Team | Future Super". www.myfuturesuper.com.au.
  2. "On the power in our pocket and the investment rebellion we have to have". The Fifth Estate. 4 July 2019.
  3. http://gpml-www-cdn.s3.amazonaws.com/live/files/dmfile/7.-ris-financial-services-guide_final_8-april-20191.pdf .
  4. "Your investment choices | Future Super". www.myfuturesuper.com.au.
  5. "Niche superannuation funds: the nitty gritty". Australian Financial Review. 27 March 2017.
  6. http://gpml-www-cdn.s3.amazonaws.com/live/files/dmfile/7.-ris-financial-services-guide_final_8-april-20191.pdf
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