Kevin O’Sullivan

UniSuper, Australia’s fifth largest superannuation fund, surpasses $100 billion in funds under management as it officially opens to new members outside the higher education and research sector, giving more people access to one of Australia’s top performing funds^[1].

From 5 July UniSuper welcomes members from outside the higher education and research sector, while maintaining its strong affinity with and deep knowledge of the sector.

UniSuper CEO Kevin O’Sullivan said: “Today is a momentous occasion for the fund. Hitting $100b in FUM, including over $12b in our sustainable options, as we open our doors to all Australians, marks a significant milestone for UniSuper.

“The continued growth and popularity of our three sustainable investment strategies along with the exceptional investment returns of almost 50%^[2] from our unique Global Environmental Opportunities option have contributed to the fund hitting this key milestone.

“There has been a tremendous amount of work in the build-up to today, and we’re thrilled to finally bring our award-winning range of services and investments to a wider audience, while continuing to offer the same excellent service our existing members have come to expect.”

A razor-sharp focus on members now and into the future

“Since announcing our intention to open to a wider market in early May, the response from existing and prospective members has been extremely positive. This is a real testament to our member focus, consistent strong performance^[1] and low fees. This powerful combination, and our growing scale, will be even more important as regulatory change and industry consolidation continue to reshape the super sector,” Mr O’Sullivan said.

“It’s been a real honour to lead this wonderful organisation over the last eight years and I’m very proud of the many successes achieved. Opening the fund more broadly signifies an exciting new chapter for UniSuper, and this is just the beginning. I’m extremely confident UniSuper will continue to go from strength to strength while staying true to its purpose of delivering greater retirement outcomes for all members.”

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[1] Over the last 10 years, of those options surveyed, UniSuper’s investment options have consistently appeared in SuperRatings top quartile performance rankings.  For more information on the performance of UniSuper’s options please refer to https://www.unisuper.com.au/en/investments/investment-performance.
[2] Based on one-year return to 30 June 2021.

Past performance is not an indicator of future performance. Any advice in this media release doesn’t take into account your personal circumstances. You should consider your personal circumstances before making financial decisions, because we haven’t, as well as the relevant PDS and FSG on UniSuper’s website (or call us on 1800 331 685 for a copy).

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Mr Chun brings close to 30 years’ experience in financial services across both the retail and industry fund sectors, particularly in roles spanning business development, marketing, product development, digitisation, client services and business transformation.

Most recently, he has been at Aware Super as Group Executive, Member Growth, with responsibility for leading the Brand, Marketing, Digital, Product and Business Development functions.

Prior to Aware, he spent over a decade at Colonial First State in roles spanning product, distribution and investments.

Mr Chun is a qualified Actuary having completed a Bachelor of Economics, majoring in Actuarial Studies at Macquarie University. He also has Graduate Diplomas in Applied Finance and Investments and Financial Planning from the Securities Institute of Australia; and has undertaken the Advanced Management Program at Harvard Business School.

A pivotal time – giving more people access to one of Australia’s most awarded funds

Mr Chun joins UniSuper at a pivotal time in the Fund’s 38-year history. Earlier this month the Fund announced it will be opening to new members from outside the higher education and research sector from 5 July, giving more people access to one of Australia’s most awarded, best performing and lowest cost super funds.

Announcing the appointment, UniSuper Chair, Ian Martin, said the Board was thrilled to have someone of Peter’s calibre and experience stepping in to lead UniSuper during this time of change and growth.

“Peter has worked across all aspects of the superannuation sector and brings immense qualifications, experience and insight to the role. We look forward to welcoming him to the business later in the year.” Mr Martin also thanked out-going CEO, Kevin O’Sullivan, for his leadership of and contribution to the Fund over the last eight years.

“On behalf of the Board and all UniSuper employees I reinforce my gratitude and thanks to Kevin for his commitment and contribution to UniSuper over the past eight years. Kevin leaves the fund in very strong shape with a reputation and established track record as unquestionably one of Australia’s top superannuation funds.” Mr Martin said.

Mr Chun will officially join UniSuper on 6 September and Mr O’Sullivan will stay on until that time to ensure a smooth transition.

“UniSuper represents one of the most respected, best performing Funds in the sector,” Mr Chun said. “I am extremely excited to be able to lead such a dynamic and successful team and look forward to working closely with the Board, Kevin and the Executive team as I take on the role later this year.

“This is an exciting time for UniSuper and its members. The superannuation sector is changing rapidly, and it is important that Funds continue to evolve and adapt.

“The Fund has a uniquely deep relationship with its members; particularly in the higher education sector and UniSuper’s core purpose – to deliver greater retirement outcomes for members – will continue unchanged. I am motivated and committed to making impactful change to retirement outcomes for Australians and this role furthers that opportunity for me professionally and personally.”

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Kevin O’Sullivan

UniSuper, the $95b fund for the higher education and research sector, has announced it will open to new members from outside the sector from July this year, giving more people access to one of Australia’s most awarded super funds.

UniSuper was established over 35 years ago as the super fund for the higher education and research sector. It has grown to be the fifth largest superannuation fund in Australia, with more than 450,000 members and over $95b in funds under management.

From 5 July, UniSuper will welcome members from outside the higher education and research sector, while maintaining its strong affinity with and deep knowledge of the sector.

UniSuper’s CEO, Kevin O’Sullivan, said: “We’re delighted to offer more Australians the opportunity to join one of the country’s largest and best-performing super funds. We create real value for our members with strong long-term performance, excellent service and low fees.”

“We are proud to be the smart choice for members seeking a very high standard of performance.  Over the 10 years to 31 December 2020 our Balanced/My Super option ranked equal first among all super funds, returning 9.0% per annum. And with more than 70% of funds managed in-house by our investments team, we deliver significant cost and performance benefits for members.”^[1]</sup[>

“As we open to all Australians, our purpose remains the same: to deliver greater retirement outcomes for all members. We are focused on, and driven by, members’ best interests in everything we do.  That singularity of focus is embedded deep in our DNA and culture.”

Industry shifts

“Both the higher education sector and the super industry are undergoing significant disruption. In this environment, scale is increasingly critical in delivering strong performance and competitive fees for the benefit of all members. We have scale now, and opening more broadly will enable UniSuper members to benefit from even greater scale,” Mr O’Sullivan said.

“Regulatory change and industry consolidation will significantly reshape the super sector in coming years. As the fifth largest super fund in the country and largest investor in ESG-themed strategies— with more than $10 billion in funds under management across these options—UniSuper is well placed to navigate the changing environment and welcome new members from outside the sector given our strong investment performance, leadership in sustainable investing, low fees and strong member focus.”

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[1] Past performance is not an indicator of future performance.

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In making the announcement, UniSuper’s Chair, Ian Martin, commented: “Kevin has led UniSuper with distinction over the last 8 years and the Board sincerely thanks him for his leadership, contribution and commitment over that period.

“Under Kevin’s leadership, UniSuper has consistently been recognised as one of Australia’s leading superannuation funds, ranked amongst the top five funds for investment performance, member satisfaction and advice services.

“Kevin is highly respected by UniSuper’s employees, members and university employers as well as by so many people in the superannuation sector. He has consistently “walked the talk” when it comes to putting Members’ interests first. His contribution to both to the superannuation sector and to UniSuper’s success was appropriately recognised by the Fund Executives’ Association last November, when he was named FEAL Fund Executive of the Year 2020.”

For his part, Kevin O’Sullivan said: “I have enjoyed incredibly my time at UniSuper. It’s been a real honour to lead this wonderful organisation and I’m very proud of the many successes achieved over that period, none more so than the way UniSuper navigated the COVID-19 environment in 2020.

“However, after almost 40 years in the work force and a very intense last 8 years, I’m looking forward to stepping back and adding more flexibility to my life, including spending more time with my wife.”

UniSuper has appointed global executive search firm, Egon Zehnder, to assist with the appointment of a successor to Mr O’Sullivan. Mr O’Sullivan will stay on until a successor commences.

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Kevin O’Sullivan

Kevin O’Sullivan Chief Executive Officer of UniSuper, has been awarded the 2020 Fund Executive Association Limited (FEAL) Fund Executive of the Year.

The annual award, which is in its 19th year, recognises a fund executive who has made an outstanding contribution to their fund and the superannuation industry.

At a dinner attended by more than 60 industry guests in Sydney and live streamed to FEAL members around the country, Kevin was named the 2020 recipient of the award for his contribution in areas including digital innovation, corporate strategy and his leadership during the pandemic which has presented unique challenges.

Jane Perry, Chair of FEAL commented: “Kevin’s outstanding leadership of UniSuper and his contribution to the industry over many decades makes him the perfect recipient for this award. His passion for digital innovation in particular has helped UniSuper’s members become more engaged with their superannuation and goals for retirement.”

Kevin has been the Chief Executive Officer of UniSuper since July 2013. UniSuper manages more than $83 billion on behalf of 495,000 members.

Kevin has more than 30 years’ experience in financial services and is an advocate for innovation in the superannuation industry. He is a Fellow of the Institute of Actuaries of Australia and an annual participant and “fundraising legend” in the Mother’s Day Classic.

Joanna Davison, FEAL Chief Executive Officer, said: “We are delighted to announce Kevin as the 2020 Fund Executive of the Year. His dedication to providing the best possible service to members at UniSuper whilst contributing to positive changes in the superannuation industry more broadly is outstanding.”

Speaking about the 19th anniversary of the award, Jane Perry said: “Recognising outstanding leadership in superannuation is an important pillar to building confidence in the system and ultimately improving retirement outcomes for all Australians.”

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Andrew Raftis

UniSuper, the $85 billion superannuation fund for the higher education and research sector has announced the appointment of Andrew Raftis as Chief Risk Officer.

Andrew will lead UniSuper’s Risk and Assurance team. Following 20 years working internationally with AXA, AIG (American Insurance Group) and Zurich in roles including Chief Risk Officer, Chief Auditor and Chief Compliance Officer, Andrew returned home to Melbourne in 2018 and has been working on several boards and advisory committees, including the AMP Employer Sponsored Superannuation Plan Policy Committee.

Andrew has strong leadership experience delivering major projects and initiatives across complex operating environments with the ability to integrate disciplines and create innovative frameworks, models and processes.

Commenting on the appointment, Kevin O’Sullivan, Chief Executive Officer said: “I’m delighted to welcome Andrew to UniSuper. He brings with him a wealth of international and domestic risk management and assurance experience; and a track record for developing leading edge best practices in risk, compliance and control functions. He will be a valuable asset to the team.”

Andrew added: “I am thrilled to be joining a fund with such a strong reputation for delivering excellent investment performance while also being member-focussed and a great place to work.”

Andrew commences in the role on Monday 29 June.

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Kevin O’Sullivan

TAL, a leading Australian life insurance specialist, has announced the launch of BEACN – an online preventative health program that helps people personally navigate their mental wellbeing.

Developed by TAL’s Innovation team, alongside research partner, University of Sydney Brain and Mind Centre, BEACN helps people understand and manage their current mental wellbeing by identifying contributing risk factors and providing specific recommendations to address these risk factors while supporting their overall wellbeing.

Dan Taylor, TAL General Manager, Member Engagement & Innovation, said BEACN provides TAL’s superannuation fund partners with a tool that aims to help their member base become more aware of their mental health and minimise the impact of mental health conditions.

“With one in two Australians affected by a mental health condition in their lifetime^[1], TAL is focused on how we can empower people to proactively manage their mental wellbeing. We see firsthand the impact mental health conditions can have on our superannuation fund partners’ members, and we want to support them by providing practical, evidence-based resources.

“An abundance of tools and applications exist that target mental health, and our research showed that people find it challenging to understand which resources are evidence-based and the most relevant for them.

“By partnering with trusted voices in mental health such as the University of Sydney Brain and Mind Centre, as well as evidenced-based mental health support services, BEACN provides a simple and effective way to engage superannuation fund members on their wellbeing,” he said.

BEACN works by guiding members through a short questionnaire and giving them a current mental wellbeing score. Based on their responses, members will be provided with evidence-based resources from trusted organisations such as Hello Sunday Morning to help them self-manage and improve their mental health outcomes. Members can also choose to anonymously contribute to research conducted by the University of Sydney’s Brain & Mind Centre around the mental wellbeing of Australians.

BEACN has initially launched with one of TAL’s superannuation fund partners, UniSuper, and it will continue to evolve and extend to other superannuation fund partners in future.

UniSuper CEO, Kevin O’Sullivan, said, “We welcome this initiative and are delighted to be able to offer this service to our members. BEACN adds new levels of engagement to the insurance process, while supporting and enhancing the mental wellbeing of our members.”

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[1] Australian Bureau of Statistics. (2009). National Survey of Mental Health and Wellbeing: Summary of Results, 4326.0, 2007. ABS: Canberra.

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Kevin will lead the finance and legal & governance functions, working closely with Chief Executive Officer Kevin O’Sullivan and the executive leadership team to deliver the fund’s strategy.

Kevin worked at NAB for over 20 years, holding a number of senior finance positions globally including Chief Financial Officer (CFO) of a NAB subsidiary in the United States. He has also worked in organisations such as ANZ and the State Superannuation Board of Victoria. In his most recent role, Kevin moved into the not-for-profit sector as the CFO and Company Secretary of Vision Australia.

Kevin has a demonstrated track record in developing high performing teams, with a wealth of knowledge and global experience in financial and strategic leadership.

Commenting on the appointment, O’Sullivan said: “Following a comprehensive selection process I’m delighted to announce Kevin’s appointment. His breadth of experience will be a real asset to UniSuper.”

Kevin commences in the role on Monday 18 November.

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Anand will lead the marketing, strategy, product and digital functions, working closely with CEO Kevin O’Sullivan to develop and drive the fund’s strategy. He joins from MLC Life Insurance where he played a lead role in the demerger from NAB. Previous roles include strategy development, digital, customer experience, marketing and large-scale program management working in Asia and Australia for Citicorp, ANZ, NAB, OCBC Bank and MLC.

With a career spanning 20 years, Anand has developed strong leadership experience in establishing, scaling, and transforming businesses by building high performance teams and trusted partnerships.

Commenting on the appointment, O’Sullivan said: “I’m thrilled to welcome Anand to UniSuper. He brings with him a wealth of commercial experience and is clearly a strategic, long-term thinker who will add enormous value and depth to the leadership team.”

The fund undertook a review of its organisational structure in April to ensure it remains in the best position possible to respond to the changing competitive landscape and regulatory environment.

Anand commences in the role on Monday 22 July.

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Kevin O’Sullivan

UniSuper, the $70+ billion super fund for Australia’s higher education and research sector, was last night named Super Fund of the Year 2019 at the Chant West awards, held in Sydney. The Fund was also named Best Fund, Advice and Best Fund, Investments.

UniSuper’s position as one of the best performing superannuation funds in the country has undeniably been cemented and confirms the Fund is delivering on its mission of delivering greater retirement outcomes for its members, according to Chief Executive Officer Kevin O’Sullivan.

“As a profit-for-member fund, dedicated to those working in higher education and research, our number one priority is, and always will be, what’s best for our members. While we never set out to win industry awards, it’s wonderful to receive more external recognition of the excellent services and investment strength provided to UniSuper members,” O’Sullivan said.

On receiving the Best Fund Advice award, UniSuper Chief Financial Advice Jack McCartney said:

“We are tremendously proud to have won the Best Advice offering. Our members are in the business of helping others fulfil their potential. They understand the importance of an expert opinion, especially when it comes to planning for the future. Receiving industry best-practice advice gives them confidence in knowing they are preparing themselves for a comfortable life now and into the future.”

The Fund has seen strong demand for its advice business over the last 12 months, particularly among younger members whose awareness of financial literacy has risen.

UniSuper Chief Investment Officer, John Pearce, accepted the Best Fund Investments award and said:

“I’m so proud of my team tonight. Investment returns are the cornerstone of providing greater retirement outcomes for our members. We have an incredible capability among our in-house investment team and this award reinforces our enviable reputation as a market leader.”

UniSuper’s long-term investment performance has continued to remain very strong relative to that of peer funds. Its surveyed diversified investment options have delivered top quartile investment returns over 3, 5, 7 and 10 years. And strong performance of global share markets underpinned a 10.5% return for the Fund’s Balanced option.

UniSuper was also a shortlist finalist in five other award categories and, over the past few years, has won a string of industry awards including Chant West Fund of the Year in 2015 and 2016 and Chant West Pension Fund of the Year in 2017 and 2018.

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