Your future’s still waiting for you
“No one can guarantee what future investment returns will be. However, the one thing members can control is the Member Administration Fees that they pay. So, we’re proud that our members enjoy one of the lowest administration fees of the top 10 MySuper products”1 Dr Sam Sicilia, Chief Investment Officer Hostplus
As Victoria begins to join other states and territories in moving towards a ‘COVID safe’ environment, it’s encouraging to see businesses and industries, such as hospitality and tourism, getting back on their feet. Although there’s a long way still to go.
Hostplus has continued to focus on achieving and delivering investment outcomes for members. The default Balanced option, in which the majority of members are invested, has continued to recover well from the impact COVID-19 had on investment markets earlier this year. Indeed, according to researcher SuperRatings, at the end of September Hostplus’ Balanced option is among the top 5 best-performing funds over periods from 5 to 20 years. And while nobody can rely on past performance as a guarantee of future performance, particularly given the current uncertainty and volatility in investment markets, Hostplus remains confident that their proven and well-diversified investment strategy will continue to deliver against its long-term objectives.
During these times of uncertainty, it’s natural to want to take action. However, when it comes to investing, particularly in superannuation, in many cases the best course of action can be to hold off on making a change and instead allow your investment strategy the time to ride out market volatility. History has shown this to be a prudent approach for those members that have some years before they are likely to call on their super, and especially if this is over 10 years away.
There are however, some things that you can look at doing, at any time, to take a greater interest in and control of your super. This includes checking to see if you have more than one super account, and if you do, consolidating them into one high-performing, low-fee fund to save on fees.2 It’s also important to review your insurance arrangements to ensure you are adequately covered for the risks that are important to you and to make sure you aren’t paying for cover you may not need. It’s helpful to make sure your personal details including your beneficiaries are up to date as well.
It’s never been more important to stay informed and Hostplus is committed to helping you stay up to date with key information that may have an impact on your super account. The highly anticipated 2020 Federal Budget was presented by Treasurer Josh Frydenberg on Tuesday 6 October. The budget proposes a number of changes to superannuation for both individuals and funds. You can view Hostplus’ budget summary as well as the latest new from the fund at hostplus.com.au/news