AustralianSuper announces resignation of Bernie Fraser from Board

From

Fund well positioned to continue delivering for members.

AustralianSuper has today announced Independent Director Bernie Fraser will be stepping down from the AustralianSuper Trustee Board.
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Mr Fraser has been the Independent Director of AustralianSuper and its predecessor funds (STA and ARF) since 1996. During that time he has also been Chair of the Investment Committee.
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Since the merger to create AustralianSuper in 2006, the Fund has built a highly-skilled and experienced investment team, bringing many key capabilities in-house.
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This focus has seen AustralianSuper deliver its members an average rate of return of 9.76% for its Balanced Option since inception*.
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Elana Rubin, Chair of AustralianSuper, paid tribute to Mr Fraser’s contribution to the Fund.
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“Bernie Fraser is a very rare individual. As a Board member, Bernie has tirelessly applied his insight and wisdom to help build the fund into one of Australia’s largest and best value super funds,” said Ms Rubin.
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“He is a man of great integrity and humility with an unwavering focus on helping members achieve a decent standard of living in retirement.
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“Bernie has played a pivotal role in setting up the investment philosophy, structure and approach, positioning AustralianSuper very well to continue to deliver strong investment returns.”
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Since joining the Funds, Mr Fraser has seen them grow from a total of 650,000 members and a little over $2bn in Funds Under Management (FUM) to over 1.5m members and $38bn in FUM.
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Mr Fraser’s resignation will come into effect on 30 June 2011. However, he will continue to advise the Fund on strategic asset allocation matters.
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“AustralianSuper and its members are indebted to Bernie and we will miss his keen intellect, his quiet authority and his generosity of spirit,” Ms Rubin said.
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*SuperRatingsCrediting Rate Survey Balanced Investment Option, February 2011.
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This information is of a general nature and does not take into account your personal objectives, situations or needs. Before making a decision about AustralianSuper, consider your financial requirements and read our Product Disclosure Statement, available at www.australiansuper.com/FormsPublications or by calling 1300 300 273. AustralianSuper Pty Ltd ABN 94 006 457 987 AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898. ‘Industry SuperFund logo used with permission of Industry Fund Services (IFS). This consent had not been withdrawn as at the date of this publication.

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