Women-led super funds outperforming

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Women-led superannuation funds are outperforming those led by men, according to recent research. Funds with women holding an executive position such as chair, trustee and chief executive are doing better than funds where the same roles are held by men.

The annual W-Index of 50 superannuation funds shows that a third of leadership roles in the funds are held by women. Eleven out of the 13 funds with an above-average proportion of women in leadership roles outperformed in the three years to FY20.

The funds with the most women in leadership positions include:

  • Tasplan

  • Vision Super

  • Media Super

  • Cbus

  • Statewide Super

  • CareSuper

  • Commonwealth Superannuation Corporation

  • BUSSQ

  • legalsuper

  • Club Plus

  • TelstraSuper,

  • ESSSuper

  • REI Super

  • Energy Super

  • HESTA

  • NGS Super Accumulation

  • TASPLAN

  • Telstra Super

Using APRA’s June 2020 data, some demographic data could be gleaned in terms of which fund has the highest number of female members, young female members, female retirees, etc.

Rest has 1.1 million women out of the 1.8 million-strong membership base, while also being the most popular for women aged 34 or less.

Aware Super has the most retired women (aged 65 and over), with the most funds under management owned by women, and the most funds under management owned by retired women.

The funds with the most female members are AustralianSuper, HESTA, Aware Super and Hostplus, and women hold $1.2 trillion in super of a $3 million asset pool. While women make up half of the millennials with superannuation, their funds only account for 42 per cent of millennial superannuation. Women make up 53 per cent of all retirees, yet have just 44 per cent of the superannuation accumulations.