By Vicki Doyle, CEO of Rest
I’m pleased to share our Annual Report for 2018/19 with you, detailing the key highlights and achievements for the previous financial year.
Last year we embarked on an exciting three-year strategy. We completely transformed our organisational structure, we refreshed our ambition and mission statements, and we commenced 11 major programs of work across the fund.
This new direction positions Rest for the future, so we can continue to grow your employee member’s retirement savings and provide outstanding service in a changing superannuation landscape.
What does it mean for you?
Our commitment to you is that we’ll continue to team up with you to make it easy to meet your super obligations and look after your employees. We strive to be easy to deal with, and we will work hard to make super clear and simple to understand. You can be confident that your employees’ retirement savings are secure with one of Australia’s largest funds.
Delivering for you and your employees with Rest in 2018/19
In 2018/19 we continued to invest with a focus on long-term performance and protecting your employees’ retirement savings against downside risk.
Rest’s Core Strategy delivered a 10-year return of 8.95 per cent per annum for Rest Super members, and 9.85 per cent per annum for Rest Pension members. Collectively, member’s retirement savings under management reached $56 billion at 30 June 2019 – an increase of around $5 billion on the previous year.
During the year, we increased our stake to become the sole owner of Collgar Windfarm, Western Australia’s largest renewable project. We were also part of a consortium of investors that agreed to purchase the Long Beach Container Terminal in California, part of the largest port complex in United States.
What comes next?
In the coming years, Rest will be dedicated to achieving our mission and ambition, by delivering on our 11 strategic programs of work.
Among a range of initiatives, this will include designing products and services that meet your diverse needs, upgrading our digital customer service systems, expanding our advice and education capabilities, and launching a new insurance offering.
You can also be assured that we are committed to advocating for your and employee members’ best interests as the super system continues to evolve, to ensure that continues to work well for you and all Australians.
First and foremost, though, we will continue to focus on delivering long term investment performance for your employees with Rest with the lowest-possible fees.