Sunsuper

Sunsuper Pty Ltd is a financial services company based in Brisbane, in Queensland, Australia. It was set up in 1987 as a multi-industry superannuation fund to cater for virtually all workers. With over 900,000 members, Sunsuper is the largest superannuation fund in Queensland, and is one of the top ten in Australia. Over 60,000 employers pay money into Sunsuper funds. [cite web| url=http://www.sunsuper.com.au/aboutUs/sunsuperstory.cfm| title=The Sunsuper Story| work=Sunsuper.com.au| accessdate=2008-01-15| ] As at June 30, 2007 Sunsuper was looking after A$12 billion for its members. [cite web| url=http://www.eia.org.au/html/s02_article/article_view.asp?art_id=461&nav_cat_id=339&nav_top_id=103| title=Sunsuper| work=Responsible Investment Association Australasia| accessdate=2008-01-15| ] Sunsuper is classified as a “not for profit" fund, which means it operates solely for the benefit of members and not for others, e.g. shareholders. It is sponsored by Commerce Queensland, the Queensland Council of Unions, and the Australian Workers' Union.

Sunsuper Pty Ltd is the Trustee of the Sunsuper Superannuation Fund and is managed by a Board of Directors with equal employer/member representation. Three Directors are appointed by Commerce Queensland; two by the Queensland Council of Unions and one by the Australian Workers' Union. The Chairman of the Board is appointed for a two-year term and this position is rotated between the employer and the member representative directors. The current Chairman is Peter Annand.

Fund Management

Investments are outsourced to many of the major investment managers in Australia and overseas. Insurance cover for members is purchased from insurers such as Suncorp. A professional custodian, National Custodian Services, holds the bulk of the money managed for members. Sunsuper does not employ sales people to sell products to the public, or pay and accept commissions to anyone for the provision of services or the acquisition of business.

Customer base

There are two main types of customers at Sunsuper. Firstly, the employers who pay contributions to the Fund on behalf of their employees, and secondly, Sunsuper members. Changes to the way super works means that most people can now select their own super fund and ask their employer to use it for them. Currently, Over 60,000 employers pay money into Sunsuper.

References

The Sunsuper Story, "Sunsuper.com.au." Retrieved on 2008-01-15 [http://www.sunsuper.com.au/aboutUs/sunsuperstory.cfm]

Sunsuper." Responsible Investment Association Australasia". Retrieved on 2008-01-15 [http://www.eia.org.au/html/s02_article/article_view.asp?art_id=461&nav_cat_id=339&nav_top_id=103]

Corbett, Charlie. “Heron hands out 2007 star ratings”, "Investor Daily",5 February, 2007. Retrieved on 2008-01-17 [http://www.investordaily.com.au/archive/1118.xml]

Sheen, Andrew. “Sunsuper celebrates twenty years”, "Global Pensions", 19 October 2007. Retrieved on 2008-01-17 [http://globalpensions.com/showPage.html?page=gp_display_news&tempPageId=659599]

Taylor, Mike. “Sunsuper cracks $13 billion”, "Super Review" October 23, 2007. Retrieved on 2008-01-17 [http://www.superreview.com.au/articles/c3/0c0515c3.asp]

External links

* [http://www.sunsuper.com.au/ Official Sun Super Fund]
* [http://www.sunsuper.com.au/publications/documents/A4AnnualReportlocked.pdf Sun Super Fund Annual Report, 2006-2007]