Daniel Shrimski News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Vanguard Super is reducing its annual administration fees off the back of strong investment performance and its short time in the market.

Vanguard Super has amassed $1 billion in funds under management in just over 12 months, while delivering the best-performing Lifecycle MySuper option of 2023 and quietly rolling out a retirement offering at half the cost of the incumbents'.

The performance gap between industry and retail superannuation funds is narrowing, raising the prospect of a fightback by for-profit super funds after the savaging wrought by the banking royal commission.

Vanguard Australia will look to buy or merge with domestic pension funds, in an effort to grow its retirement product as much as fifty-fold, Managing Director Daniel Shrimski said on Wednesday, in a... -November 29, 2023 at 02:44 am EST - MarketScreener

Vanguard Australia will look to buy or merge with domestic pension funds, in an effort to grow its retirement product as much as fifty-fold, Managing Director Daniel Shrimski said on Wednesday, in a market worth almost $2.3 trillion. Launched last November, the Vanguard Australia pension product has grown to roughly A$900 million ($597 million) in assets and Shrimski said mergers were part of the plan to become a mid-sized player within five to seven years. In Australia, that typically means between A$10 billion to A$50 billion under management.