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supernews
Autumn 2019
Investing with
integrity
Why corporate
governance
matters
Read SuperNews online at firststatesuper.com.au/supernews
From the
CEO
What’s INSIDE
This is my first SuperNews as CEO
and I am thrilled to be here.
6
From the CEO 3 For years I have observed First State Secondly, there is a synergy between
Investing Super from afar and thought, ‘Now my own family and the members of First
that’s an organisation I’d like to work State Super. Both my parents were teachers,
with integrity Investing with integrity 6
for!’. It is no exaggeration when I say, I have a sister who is a physiotherapist and
this is my dream job. And there are members of my extended family are police
Why corporate We’ve reduced our fees 10 several reasons why. officers and nurses. Like my family – and the
governance matters members we serve – helping people build a
Our fees made easy 12 Firstly, this is a great fund for our
members. The fund has a track record better future is such a worthy purpose and
of competitive investment returns, one I want to continue as CEO.
Get your super out of
14 we try to keep fees as low as And finally, there is the huge
the slow lane possible, the insurance opportunity in front of us.
We launched our own benefits are well-priced and When I think about
Our #waronwaste 16 As a
#waronwaste we have Australia’s largest
profit-for-member
the changes occurring
16
member-owned financial in superannuation –
and won Investment update 18 planning business. fund we answer to
our members, not
whether as a result of
the findings of the Royal
I am also impressed by
Investing in the future 20 Commission into Banking
First State Super taking the shareholders. and Superannuation, a
lead in socially responsible
5 questions with our CIO 22 investing. We were one of the rapidly ageing population or
first funds to introduce socially advances in technology – this
Important changes industry will look vastly different
5 questions to super 24 responsible investment options and
environmental, social and governance in five years’
challenges
time.
head on
I’m
and
eager
I
to face these
believe that
(ESG) considerations are a vital part of
with our CIO Simple steps to combine
25 First State Super is well-placed to help
22
our investment decision-making.
and save members with these changes.
As a profit-for-member fund, we answer
to our members, not shareholders. It is I look forward to leading an organisation that
clear to me that members are truly at has such strong values and a ‘member-first’
the heart of everything we do. culture, where our members truly benefit.
2 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 3
What’s important
to me
At work At play
Courage Wellbeing
Courage is being bold and Looking after your wellbeing
willing to lead – taking a stand on helps you to be your best self.
important issues. Courage is also Sleep and exercise are crucial
showing humility and asking for components to this. I need a full
help when you need it, being able night’s rest and try to exercise
to delegate to other experts in the at least three times a week with
business to provide the answers. Zumba, running and swimming.
Leadership
Being a good leader is having
what I call ‘human-centred’ Family
leadership, which is about As a parent, I consciously
building connections and make time to be there for my
relationships to achieve success. husband and my children, their
A good leader can build trust school and the community by
by actively listening and balancing work and home
remembering there is always responsibilities.
a place for compassion and
empathy in the workplace.
I look forward Vision
to leading an Vision is being clear about Travel
organisation who we are, what we’re trying
to achieve and how we will
Having had the wonderful
opportunity to live and work
where members get there. A clear vision helps internationally for many years,
come first. us maintain focus on our
fundamental purpose, which
I certainly love travel. Seeing and
experiencing different places and
Deanne Stewart, CEO is being there to support cultures is not only exciting, but
and improve outcomes for our it broadens your perspectives
760,000 members. and priorities.
4 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 5
Why corporate governance matters
You may not know this, but corporate governance plays a crucial
role in providing the best investments for our members. Read on
to discover about our commitment to good governance in the
companies we invest in – for you and the community as a whole.
Understanding the ‘G’ in ‘ESG’ Being a big fund comes with
ESG stands for ‘environmental, a big responsibility
social and governance’ and refers With a $90 billion investment
to the assessment of a company’s footprint, we are one of the world’s
behaviour beyond purely financial largest 100 pension funds. This
considerations. means we are ‘universal owners’ and
The ‘governance’ part relates to the own a slice of the whole economy
framework for the management and market through our portfolios.
of the company by the board of So we’re very mindful of the impact
directors, managers, shareholders our investments have, now and in
and other stakeholders. the future.
As three central factors relating Knowing the difference our choices
make, we take the corporate
Investing with
to corporate responsibility and
sustainability, ESG is not only governance of the companies we
essential in making sure companies invest in very seriously. We even
are doing the right thing, but can also have a dedicated Responsible
integrity
determine their long-term success Investments team, which analyses
and share value. and acts on ESG issues.
Our purpose is to
put members first, and In other words, as well as having
everything we do and every positive social and environmental
outcomes, good corporate
decision we make is going
governance is also key to achieving
to impact a member and strong business results, including
their retirement savings. long-term financial performance. And
Liza McDonald, that, in turn, delivers better returns to
Head of Responsible Investment investors.
6 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 7
Good corporate governance Our commitment to
in action good corporate governance Corporate governance
As stewards of our members’ retirement is the framework for a company’s
savings, our commitment to good corporate Good corporate governance helps foster sustainable management by its directors,
growth and success of companies, which means managers, shareholders
governance doesn’t just mean looking at
profits to shareholders – you, our members. and stakeholders.
a company’s philosophy and behaviour. It
means actively engaging with companies
Through active ownership we vote to hold companies to
to influence the decisions they make and Active VOTE
account on their governance. Then through constructive
keeping them accountable. ownership dialogue we maintain engagement, with the aim of helping
them better manage ESG risks and encouraging disclosure.
Encouraging good governance
Here are some of the things we aim to promote in the companies we invest in: Voting Our active ownership approach includes voting at company AGMs and engaging directly with boards.
2017
2018
Number of Number of
meetings 1,168 meetings 1,180
The independence, Transparency of A clear and aligned A competitive
integrity, operations and strong corporate vision, advantage through Number of Number of
accountability, risk management purpose and innovation, resolutions 13,808 resolutions 13,345
performance, to ensure boards strategy management skills
remuneration and make decisions and organisational Number of Number of
diversity of the board in members’ best resilience remuneration 30 remuneration 56
of directors and interests reports we reports we
executives voted against voted against
Engagement
There are also many ways we encourage good corporate governance, including:
Corporate Board Board
Voting at company Engaging our Working with specialist culture diversity independence
Annual General Meetings investment managers, organisations and We encourage best We aim to lift the number of We advocate independent
practice codes of conduct female directors, where there is board members to build trust
(AGMs) on issues such as companies and policy engagement firms, and whistleblowing systems. poor gender representation. and risk management.
executive remuneration, makers to make positive including the Australian
director elections, capital changes, minimise risk Council of Superannuation
raisings and shareholder and manage outcomes Investors, to address
Through our collaborative initiatives
proposals relating to ESG issues and ensure We targeted gender diversity in thirteen We helped improve reporting and practices in fresh
companies and eleven appointed their food consumer goods supply chains at six companies
environmental and companies are focused
first female director in 2017. throughout 2018.
social issues on long-term benefits to
investors We introduced the Modern Slavery Bill to Parliament
to prevent slave labour in companies’ supply chains.
Good corporate governance starts at home.
Read more on responsible investing at firststatesuper/responsiblesuper For more about our own approach, go to firststatesuper.com.au/governance
8 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 9
We’ve reduced our The good news
is, less on fees
FEES
We recently reviewed our pricing to see if we could
means more
for you.
provide more value for our members. The good news is
we’ve reduced some fees as a result, which means more
money for you.
We work hard to keep our fees as competitive as we can.
If you’re a super member And the annual asset-based
From 1 October 2018, we removed: administration fee is now capped at
$750 per year.
55 all switching fees, so you no
longer pay $25 for each additional If you’re an income
investment switch you make in a stream member
financial year
If you have a retirement or transition
55 the $36 exit fee, so you aren’t to retirement income stream, from
charged to make a withdrawal or roll 1 October 2018, you no longer pay $25
over your money for each additional investment switch
55 the No TFN tax recovery fee, if you you make during the year, or a $36 exit
provide your TFN after your account fee when you make a withdrawal or
is opened. close your account.
How do our fees measure up?
Trying to work out what different super funds charge can be tricky. Independent
research company Chant West allows you to compare key features, including
fees, of over 200 different funds on an ‘apples with apples’ basis, using their
AppleCheck comparison tool.
Compare us at firststatesuper.com.au/compare
10 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 11
Our fees made easy All members pay the following fees:
Fees can eat into your overall super balance, so it’s 1 Administration fees 2 Investment fees
important to understand what you’re paying, and why.
It can be confusing, but here are a few pointers that will help. You pay $1 per week ($52 a year) Annual investment fees for year
ended 30 June 2018 start at 0.05%.
+ Investment fees for our most popular
investment options are:
As a profit-for-member fund we don’t answer to An asset-based administration fee of
shareholders, or pay commissions to financial advisers. 0.15% of your account balance Growth 0.80%
We try to keep our fees and costs as low as possible. (to a maximum of $750) to cover Balanced Growth 0.76%
the costs of administering the fund,
such as: over the costs associated with
C
A recent review of our fees the purchase, sale and ongoing
means you no longer pay: Processing contributions
and withdrawals
management of your investments
Is an estimated % depending
Updating account records on your investment option
Can vary from year to year
Issuing annual statements
and member correspondence Some investments are more
expensive to manage than others
Other member support services
Investment fees are INDIRECT FEES
Administration fees are DIRECT FEES and appear on your annual statement
Switching fees Exit fees when you TFN recovery fees for
and appear on your annual statement as ‘Other fees of your investment’.
if you change leave or withdraw providing your Tax File
as ‘direct fees’. They are deducted They are not deducted from your
investment option money from the fund Number after opening
from your account balance. account balance, but form part of
your account
the unit price calculation.
While fees matter, it’s important to look at There are also Activity Fees, which are direct fees.
the net return you receive. You only pay for these if you use them.
= –
Your
investment Investment Fees and Advice fees are charged amily law fees are for information
F
return returns taxes for comprehensive provided under the Family Law Act,
financial advice. e.g. property settlement.
You should also consider the member services available to you.
Don’t take it from us – decide for yourself! What about insurance?
You may have insurance as part of your super account. Insurance
premiums are not classified as fees, but also come out of your super
See how our fees compare with 200+ funds using Chant balance. They are calculated based on cover, age and employer
West’s AppleCheck at firststatesuper.com.au/compare category rating for your industry.
You can change your cover or opt out at any time.
12 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 13
Choose a super top-up strategy that works for you
Salary sacrifice
Taxed at You may opt to pay some of your before-tax salary into super.
15% 55 Tax effective if your marginal tax rate is over 15%2
2
BEFORE-TAX
55 Capped at $25,000 for the 2018/2019 financial year
Get your super ownload and complete the Contribution by
D
payroll deduction form from our website and give it to
your employer
out of the slow lane Personal contributions
For most of us, our employers typically contribute 9.5% Make your surplus cash work harder.
Earnings
of our salary to super. But will that put you on the fast track taxed at
55 Your earnings are taxed at a maximum of 15% versus
up to 45% on savings outside super
to a comfortable, enjoyable life once you stop working? 15% or less
55 Capped at $100,000 for the 2018/2019 financial year
or $300,000 over 3 years
Use BPAY to make a contribution. Log in to find your
Female Consider the possibilities Customer Reference Number or check your statement
born in 2017 Male
84.6 You may live to be 100 or more. born in 2017 Earn up to Government co-contributions
years The average life expectancy of Australians is
increasing every year, so how you spend your
80.5 50c You could get rewarded for your after-tax contributions.
years
retirement years depends on what you do now. for every $1 55 If you earn less than $52,697 before-tax
contributed 55 Up to $500 government co-contribution
AFTER-TAX
Find out more at firststatesuper.com.au/government
And the facts
Downsizer contributions
1 2 3 Up to If you’re over 65 you can put money from the sale of a
Super earnings get The earlier you start There are lots of smart $600k primary residence into super.
55 Maximum of $300,000 or $600,000 for couples
special tax treatment contributing to super, ways to make extra super boost
allowing you to grow the more it will be contributions, even per couple 55 Does not count towards your contribution cap
your savings faster worth in years to come when retirement is ownload our fact sheet Making downsizer contributions
D
just around the corner from firststatesuper.com.au/factsheets
There are rules around whether you can contribute and how much Spouse contributions
you can put in. Make sure you check out our website and fact Boost your 55 To make up for career breaks, or if one of you earns
sheets to see if you are eligible and for all the details1. partner’s less than the other, you may want your spouse to
super contribute to your super, or vice versa
55 You may receive a tax offset
Learn how at firststatesuper.com.au/spouse
1F
or details read our fact sheets: Adding to your super, About salary sacrifice and Making downsizer
There is no charge for talking to one of our super advisers over the phone. contributions or visit firststatesuper.com.au/makecontributions
Call 1300 650 873 or visit firststatesuper.com.au/advice to feel future ready. 2 Additional tax may apply if you are a high-income earner, you don’t provide your TFN or you exceed the cap.
14 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 15
We launched our own Everyone who signed up for the challenge
pledged to undertake a sustainable action
#waronwaste
and commit to it for at least six weeks.
Actions included ditching disposable
cups, avoiding plastic packaging,
and won
reducing food waste and reducing
energy consumption. First State Super’s project involved
We made 366 pledges and 220 the biggest effort on engagement
keep-cups were distributed to staff. we’ve seen in this category. The
project demonstrates the benefit of
Last year, our Sustainability The challenge was part of our broader
involving all stakeholders in striving
commitment to CitySwitch, a program
Council launched its first run collaboratively by city councils that
for positive change.
War on Waste challenge helps office-based businesses improve CitySwitch awards judging panel
their energy and waste efficiency.
to educate staff about
sustainability and encourage The numbers speak for themselves
them to reduce office waste. 55 10,433 kilogram reduction in CO2 Not only are the numbers impressive,
emissions, which is the same as they also helped us win the CitySwitch
running an average house for about 2018 National Signatory of the Year
80% of the year award, recognising our achievements in
55 41% reduction in disposable employee engagement to minimise waste
coffee cup waste in the workplace!
55 136 employees completed the online The annual CitySwitch Awards recognise
Stepping up sustainability training
55 141 sustainability peer to peer
organisations that reduce energy use and
carbon emissions, and prevent waste from
our war on waste reward cards were sent, recognising
sustainable action
going into landfill.
We believe our individual actions
add up and make a difference, so
this year we are running another It only takes a minute to help the environment by registering to receive your
initiative, Rethink the print, aimed annual statement online.
at reducing our paper usage and Log in to your account or give us a call to update your
printing footprint. communication preferences
16 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 17
INVESTMENT UPDATE
Share markets fall
as volatility takes its toll
Share market volatility gradually increased over the second half of
2018 with notable spikes during October and December.
International share markets 2008, central banks injected Volatility can also increase US-China trade relations Australian dollar acted Despite concerns
fell around 10% over this liquidity into the financial due to uncertainty. Trade could produce further as a shock absorber by about volatility,
period, posting negative system and lowered interest policy tensions between volatility in 2019. dampening the impact of
returns during October and rates to near zero – in some the US and China have negative returns. global economic
The Australian economy
December. Emerging markets cases below zero – to boost increased uncertainty about expanded more than 3% Despite concerns about growth remains
lagged developed markets. economic activity. global economic growth in the September quarter. volatility, global economic positive, and the
Defensive sectors such as
Ten years on, with the global should the two countries Employment continues to growth remains positive, and expansion that
Utilities and Health Care
economy growing at a healthy fail to reach a constructive rise at a healthy pace, wage the expansion that began in began in mid-2016
outperformed, while Energy agreement. growth is slow but steady, mid-2016 remains intact. The
pace, central banks began remains intact.
underperformed due to The abrupt decline in oil and household spending pace of economic growth
gradually reversing their
lower oil prices. prices during October and remains stable. The housing has slowed from its peak in
crisis-era actions by slowly
Domestic shares fell around November also added to market continues to cool, mid-2017 as the boost from
reducing the extraordinary
8% over the period. The market volatility. While particularly in Sydney, and US tax reforms fades.
levels of liquidity they had
Consumer Discretionary the decline lowered fuel housing credit growth has Looking ahead, it is likely
injected into the financial
sector lagged as the moderated. that share markets will
system. At the same time, costs, it also affected the
combination of slow income they began raising interest profit outlook for energy The Australian dollar continue to have spikes in
growth, high household debt companies, prompting a fall weakened over the period, volatility and periods of
rates to more normal levels.
levels and a cooling housing although with around falling prices. A key factor
Some of the recent volatility in their share prices.
sector raised concerns about half our international will be how governments
is due to financial markets Recently, central banks have
consumer spending. shareholdings ‘unhedged’ respond to any moderation
adjusting to the new reality indicated that to minimise
(exposed to currency in economic activity.
One cause of the higher of less supportive monetary adverse market reactions,
movements), the falling
volatility has been the policy and higher interest further reversals of crisis-era
gradual change in central rates. This is typically a policies will proceed at a
bank behaviour. Following challenging environment for slower pace. However, the For regular market updates, subscribe to our monthly
investment update at firststatesuper.com.au/marketupdate
the global financial crisis in riskier assets such as shares. ongoing uncertainty around
18 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 19Our mission is to
connect everything.
Low-cost connectivity
is a massive enabler.
You need to unlock
Investing in the future this market to unlock
everything else.
Flavia Tata Nardini,
As a First State Super member, your super is invested in Chief Executive and Co-founder,
companies that are breaking new ground. Fleet Space.
A small but growing part of our investment portfolio is being used to fund
start-up businesses developing unique products or services with global
growth potential.
We’ve partnered with venture capital funds like Blackbird Ventures to help us
identify promising opportunities such as See-Mode Technologies and Fleet
Space, two companies revolutionising their respective industries.
Fleet Space
Based in Adelaide, Fleet Space are
experts in remote connectivity
See-Mode Technologies systems, providing the internet to
See-Mode Technologies is an companies and industries located
early stage software company in hard-to-reach places. Access is
using advanced technology to provided through a network of micro
improve the outlook for stroke or nano-satellites and the service is
victims by reducing the likelihood used primarily for industrial work in
See-Mode
of repeated strokes. See-Mode
Technologies is a very
the mining, oil and gas, agriculture,
uses artificial intelligence
early stageand
software transport and logistics industries.
computer modelling company
to analyse using Fleet Space has recently transmitted
medical images, which helps
advanced technology data from sensors on the Great
to improve
neurologists improve thethey
how outlook
If the solution that we make helps Barrier Reef that monitor the level
for stroke
assess the risks faced victims.
by stroke of bleaching directly to marine
to save one person, I would be happy. patients and recommend a biologists’ phones and desktop
Dr Sadaf Monajemi, pictured with Dr Milad tailored course of treatment to computers. Previously, biologists had
Mohammadzadeh, Co-founders and Directors prevent future strokes.
of See-Mode Technologies. to travel to the sensors every week.
For more information on the projects we are invested
in, visit firststatesuper.com.au/projects
20 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 21questions
with Damian Graham,
Chief Investment Officer
We ask about investing 1 What are some of the biggest
3 What makes First State Super As long-term investors,
challenges
you face right now? different
as an investor? our responsibility is to
and the road ahead We’re in a challenging market environment, It’s a combination of things – our deliver competitive
with rising US interest rates and ongoing underlying investment philosophy,
trade tensions between the US and China the size and strength of our team, the
long-term returns to
causing a spike in volatility over recent opportunities presented by our scale and members. It’s important
months. Domestically, the Hayne Royal the relationships we have with external we don’t get distracted by
Commission and the cooling housing market consultants and advisers. At the core of
have also been weighing on the Australian short-term ‘noise’.
our investment philosophy is a belief
share market. that asset allocation (the mix of assets
such shares, property, fixed interest and As we head into 2019, what are
2 What can help during periods cash) rather than market timing or stock
5 some of the key focus areas?
of
volatility? selection, is the main driver of returns. We will continue our recent focus of
Investing in a diversified mix of asset classes Having a clearly-articulated philosophy building our internal capability in shares,
helps limit the impact of volatile markets on
gives us an ‘anchor’ in times of credit markets, direct property and
members’ savings, while still allowing
volatility and helps prevent emotional direct infrastructure into 2019. Bringing
us to deliver competitive returns over the
decision-making. investment management in-house gives
long term.
us direct market access and improves our
Over the last few years we have been
building up our holdings of unlisted assets
4
Tell us more about your team. access to unique investment opportunities.
such as direct property, infrastructure and Our team of 75 offers us the experience We will also continue to look for
private equity, which increases the level of and capability to really understand and opportunities that support the
diversification and can help cushion returns take advantage of opportunities. But the communities where our members live,
during periods of share market volatility. real strength is our diversity. We have work and retire, through investments like
people from investment banking, funds the Two Melbourne Quarter development
Other strategies include active asset management, consulting and academia. and the NSW and Victorian Land Registry
allocation and foreign currency This ensures we can draw on a broad Services. And we will continue to positively
management. range of experiences and perspectives, influence their governance, practices
Read more at which helps when we are evaluating new and management through share voting,
firststatesuper.com.au/markets investment opportunities. engagement and advocacy.
22 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 23Important changes
Combine and save in
to super 3 simple steps
Use our search and combine tool to
search for super that you have with another
fund and any lost super that the ATO may have.
To combine your super visit
firststatesuper.com.au/combine
Work test exemption 1 Enter your member number, surname, postcode
for recent retirees and date of birth. You can find your member
number on your account snapshot, included
from 1 July 2019 with this magazine.
2 A pin code will be sent to your mobile to verify it’s you.
3 Review the super we have found and click the
Currently, if you are aged 65 to 74 you must work a minimum number of hours consolidation button.
to make after-tax (or non-concessional) contributions to your super. Known as
the ‘work test’, you’re required to work at least 40 hours in any consecutive
30-day period during the financial year in which you make the contribution. Why combine with First State Super?
From 1 July 2019, if you are aged 65 to The $100,000 annual cap for non- As a profit-for-member fund, we’re all about making
74 with a total superannuation balance concessional contributions still applies, but your money go further in retirement.
below $300,000, you will be able to make you will be able to make use of the bring-
after-tax contributions in the financial forward rule if you turn 65 during the work Members come Advice for a better
year following the year in which you last test exemption year. first future
met the work test. So, if you’ve recently In addition, you can also access any unused Competitive Socially responsible
stopped working, you have until the end concessional cap to contribute concessional investment returns choices
of the following financial year to top up contributions during the year. Less on fees,
your super. Award-winning fund
more for you1
We’re proudly local
A super adviser1 can talk you through the new rules and show you how to
make the most of your contributions. You won’t pay anything extra for this 1From 1 October 2018 you no longer pay switching, exit or TFN recovery fees.
service. Call us or request an appointment at firststatesuper.com.au/advice
1Financial planning services are provided by our financial planning business State Super Financial We’re here to help. Call 1300 650 873 to
Services Australia Limited, trading as StatePlus, ABN 86 003 742 756, AFSL No. 238430. StatePlus talk to a member of our team.
is wholly owned by First State Super.
24 SuperNews | Autumn 2019 firststatesuper.com.au | 1300 650 873 | enquiries@firststatesuper.com.au 25If you live or work in Melbourne,
we have a brand new service
centre in the heart of the CBD at
570 Bourke Street.
Feel free to come in and ask a question about your super or
make an appointment to meet with a StatePlus financial planner.
StatePlus is our financial planning business and has been advising
clients since 1990. StatePlus is wholly owned by us.
To find your closest service For more information about our
centre check our website at financial planning business, visit
firststatesuper.com.au/locations stateplus.com.au
Service and advice
Phone 1300 650 873
Fax 1300 722 072
Email enquiries@firststatesuper.com.au
Web firststatesuper.com.au
Post PO Box 1229, Wollongong NSW 2500
This is general information only and does not take into account your specific objective, financial situation or needs. Seek
professional financial advice, consider your own circumstances and read our product disclosure statement before making a
decision about First State Super. Call or visit our website for a copy. Issued by FSS Trustee Corporation ABN 11 118 202 672,
FSS SN 03/19
AFSL 293340, the trustee of the First State Superannuation Scheme ABN 55 226 460 365. Financial planning services are
provided by our financial planning business State Super Financial Services Australia Limited, trading as StatePlus,
ABN 86 003 742 756, AFSL No. 238430. StatePlus is wholly owned by First State Super.
Issued March 2019You can also read
