Legalsuper turns in strong year
Legalsuper has launched a new website that provides investment education material based on member feedback.
The superannuation fund announced the launch of the website at the same time as this week pointing to what it described as "top-quartile investment performance and above median FUM growth in the last financial year".
Legalsuper chief executive Andrew Proebstl said that the strong results achieved by the fund were especially pleasing given the increased competition in the superannuation industry.
"Legalsuper now manages more than $2 billion, and over the last five years total funds under management (FUM) has doubled," he said.
Proebstl said that as a smaller fund with a very clearly defined target market, Legalsuper was able to invest nimbly, achieve higher levels of engagement with its members and tailor its products and services to the particular needs of legal professionals.
"There is much debate in the industry about super funds needing to have scale. We think it is not so much about acquiring scale per se, it is about acquiring the level of scale you need to achieve your mission," he said.
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