INDUSTRY NEWSNEWS

REI Super ranked eighth best performing fund across Australia

REI Super was ranked the eighth best performing super fund by the Australian Financial Review for the 2020-2021 financial year.

REI Super’s Balanced (MySuper) option delivered the highest net annual return of 20 per cent, according to the publication and has ranked the eighth best performing super fund across Australia for one year. 

While REI Super recognised their members have faced business and employment challenges, lockdowns, community hardship and health concerns over the past year, they say they have been working hard to achieve the best possible retirement outcomes.

This performance was achieved during a year which saw funds under management grow to $1.917 billion, which is an 18.7 per cent increase on the previous year. 

REI said the results were a positive outcome for members.

The results were achieved by the completion of a strategic review of REI Super’s portfolio over the year and a restructure of their investment portfolio.

The latter included reducing exposure to Australian equities early in 2021 on the back of strong returns, divesting from alternatives, taking profits on exposures to emerging markets and US banks.

This increased their exposure to industrial and consumer good companies in Japan and the US and European energy companies.

REI Super said their members have benefited from their profit-for-member focus and consistent approach to acting in their members’ best financial interests.

REI Super Chief Executive Officer Jarrod Coysh said the investment performance is the result of a well-executed investment strategy and sound governance processes.

“Our members’ financial future and achievement of a dignified retirement is our number one focus and priority and has been for over 46 years,” Mr Coysh said. 

“We are committed to the real estate industry and allied industries and the people who work in it.”

Source: AFR and Chant West

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