Latest news

May 2020

1 July increases

The member fee will increase (in line with increases in Average Weekly Ordinary Time Earnings) from $7.63 to $7.88 a month.

May 2020

smartMonday super fund awarded AAA Quality rating


Sydney, 8 May 2020 – Building on an already standout 2019, smartMonday by Aon , is very pleased to announce it has been awarded a SelectingSuper AAA Quality rating in a recent industry product assessment.  smartMonday DIRECT, smartMonday PRIME and smartMonday PENSION were assessed and achieved the AAA Quality rating amongst a field of more than 600 superannuation products.





Only one third of Australia’s leading superannuation funds achieved a similar rating.

Shannon O’Shea, Head of Member and Corporate Services at Aon said: “We are so pleased that our smartMonday fund has been recognised with this rating. We are delivering on the commitment to our members to support them with meeting their financial goals, whether they are in the Monday or Friday of their working life. By focusing on the power of smart, easy actions they can contribute to the long-term growth of their super savings.

“This recognition from a leading industry assessor is a great confirmation that we are making real change and pioneering a movement to make Mondays matter for our members, to help them with their financial wellbeing.”

The SelectingSuper AAA Quality Assessments are researched by Rainmaker Information and dissect superannuation products in an attempt to recognise quality and consistency in superannuation offerings.

“The AAA rating is a sign that the fund offers a combination of solid net returns, low fees as well as good value insurance within super,” said Alex Dunnin, head of research at Rainmaker Information. “Achieving a AAA status should be something funds are proud of.”

These AAA Quality assessments are centred on Rainmaker’s independent superannuation research program that spans 3200 investment choices, 2800 fee options and 15,000 insurance policy options covering workplace, personal and retirement products.

Of the 201 products awarded ratings, 154 were derived from not for profit funds whilst the remaining 47 were retail based products.
If you're after a superfund that works harder for its members, get in touch with smartMonday today and learn how our unique approach could help you.
 
Contact Simon Wolnizer
 
About smartMonday
 
smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund. While we endeavour to provide accurate and timely information and use sources we consider reliable, the information set out above is obtained from sources which may have not been validated and the accuracy or veracity of which cannot be guaranteed. No one should act on such information without appropriate professional advice after a thorough examination of their situation. To the extent permitted by law, no liability is accepted by us for any loss or damage arising out of any reliance on the information contained in this statement.
© 2020 Aon Hewitt Limited – Financial Services Guide
 
About SelectingSuper

Rainmaker Information publishes the superannuation information portal SelectingSuper. SelectingSuper brings together superannuation funds, members, employers and financial advisers in the world’s fourth largest pension market. SelectingSuper empowers members, employers and financial advisers in their search for information about superannuation. SelectingSuper also celebrates the best superannuation funds in Australia through a rigorous research and ratings program, awarding the Rainmaker SelectingSuper AAA Quality Assessment and recognising funds that have excelled through the Rainmaker SelectingSuper Awards, which are held in November each year.
www.selectingsuper.com.au
 
 

March 2020

Australia - Market turmoil - updated 17/3/2020

Global Financial Crisis (GFC) vs Coronavirus :

The escalation of the Coronavirus (COVID-19) into a global pandemic has sent a shockwave through both financial markets and everyday life. We’ll stick to focusing on the financial markets (and leave it up to you to work out the best times to score toilet paper).
 
A key difference between COVID-19 and the GFC in 2008 is that the COVID-19 is a health crisis that is heavily impacting the financial markets, not a standalone financial crisis.
 
This doesn’t make people worry any less, and that is completely understandable in today’s uncertain climate. Our investment and superannuation experts are here to reassure you that we are in this together. If you need support regarding your superannuation, and you are a smartMonday PRIME or DIRECT member, you can reach out to a smartCoach for support on making decisions that are right for you. Or we recommend chatting to a financial adviser before making any decisions that can impact your ‘bright weekend’ aka your retirement.

 Why are the markets so crazy (volatile)?

Investment markets work based on efficient exchange of information. Generally speaking when information is available, understood and there is time to digest all the news, markets work best. Volatility occurs when information has an uncertain outcome, which is the current situation concerning the fast spreading COVID-19 pandemic. So, investors have had difficulty digesting, understanding and responding to the unknown economic implications of COVID-19.

We’ve learned new terms like ‘social distancing’ and having restrictions on our travel and daily life. Adding to the health news flow there are many announcements by central banks and governments of economic support. Many of these announcements are designed to placate markets and generally speaking are meant to improve sentiment but often have just added more uncertainty.

How much money have we lost?

The share market falls over the past month can be generally measured (not to be dramatic) amongst the worst on record.
 
For those of you that love numbers – the S&P 500 Index (US Shares) daily change shows very high volatility – large drops, and large recoveries over short time frames = unpredictable volatility.
 
Source: Factset Research Systems Inc. , as at 20th March 2020

What has this meant for year to date investment returns?

Returns for almost all investment strategies with an allocation to growth assets are generally expected to be negative since the market peak on 20th February 2020 to 18th March 2020.
 
Strategies that have a higher allocation to listed shares (shares bought and sold on the share market) have performed the poorest in this time period. However, analysing a few days of data represents a ‘short-term view’ and you should consider your investment time horizon before making any changes to your investment strategy. For example, over the previous 10 years, share strategies generally have had the highest returns of all key asset classes by a large margin. This is why ‘it’s not about timing the market, but time in the market’.
 
Members invested in the more diversified options, such as a “balanced” option have generally benefitted from exposure to many asset types including investments with positive returns through volatility, such as government bonds. Here diversification (spreading your eggs over a few different baskets) will have done its job and should reduce the impact of the volatility and loss for those members.

Should smartMonday members be worried?

If you are in retirement (or approaching that time), consider all your options before making any significant changes to your investments. This may include reviewing your retirement strategy with the assistance of a financial adviser or if you are a smartMonday PRIME or DIRECT member, chat to a smartCoach, to see if your objectives are still being met.

Should older members be worried?
 
If you are in retirement (or approaching that time), consider all your options before making any significant changes to your investments. This may include reviewing your retirement strategy with the assistance of a financial adviser or smartCoach to ensure that your objectives are still being met.
 
If you haven’t made an active choice about your investments, then you are invested in the smartMonday’s MySuper default investment option (‘lifecycle approach’).  For those members closer to retirement, our MySuper lifecycle automatically adjusts a members’ exposure to growth assets based on the members age (see MySuper graph below). Through this strategy older members are invested in a lower risk investment portfolio and will be likely to be less affected by the market volatility as a result of the COVID-19
 
smartMonday MySuper – a lifecycle approach to investing
 
 
Riding it out versus Locking it in;
 
Superannuation is a long-term investment.  Changing or redeeming your investments after a market downturn is a big decision that shouldn’t be taken lightly, and depends on several factors including your age, life stage and risk appetite.
 
Look at any long-term graph of the share market like the chart below, which investors call ‘the wall of worry’.
 
In these volatile times it might be reassuring to note that previously the overall long term ‘trend line’ has gone up in value – meaning over time the share market tends to increase in value, despite the short-term drops. You won’t make money stuffing your mattress with cash but instead look at the appropriate time horizon for you and seek support before making a decision.

Here’s the chart investor’s call the ‘wall of worry’:
 
 
ASX, AMP Capital 
 
Volatility is a key ingredient of the share market and it should be expected from time to time. Although, past performance is not an indicator of future performance. None of us can predict the future, we can only make decisions based on what we know today, and with the support of experts.
 
And yet as shown in the chart below in the past, over time, even with the previous drops, over the long term, the value of the ASX 300 is up. 

 
Factset Research Systems Inc. , weekly data to at 13th March 2020
 
What do to next:

We recommend that you seek financial advice before making any decisions in relation to your investment strategy. You should chat to a financial adviser or if you are a smartMonday PRIME or DIRECT member you can reach out to a smartCoach for support on making decisions that are right for you.

smartCoach:

1300 262 241
smartCoach@smartMonday.com.au

references:
 
smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. Any information provided in this document is of a general nature and you should seek personal financial advice that is tailored to meet your financial goals, circumstances and needs. In any case, any recipient shall be entirely responsible for their use of this document. Past performance should not be considered a guide to future performance.
© 2020 Aon Hewitt Limited
 

 

 

February 2020

2019 was an impressive year for Super returns, what comes next?

The overall story for 2019 is best explained by changed monetary policy conditions, specifically markedly lower interest rates. Some 70% of the main global central banks have reduced rates and have taken other actions to support economies. The sheer number of accommodative actions is only matched by the concerted activities that happened during the Global Financial Crisis (GFC).
 
The last quarter of 2019 provided a change of pace with more subdued returns. Sentiment turned more positive and the trend for bond yield decline halted. Despite the change in bond markets global shares continued to perform as US and China reached a “phase one” trade deal, avoiding planned escalation through additional tariffs on Chinese goods. Returns achieved by Australian investors from global shares did not fully reflect these improvements as the Australian dollar moved up from its 10-year low point.
 
And then there was the Coronavirus (COVID-19).
 
The timing of the February / early March market falls seems to have been initiated by reports of new infection clusters appearing outside of China, confirming that containing the virus is a very challenging goal.
 
China, burdened by the forced closure of worksites and travel bans, is likely to experience a slow-down across the first half of 2020. It also appears likely that China’s woes will be imported into other countries and their companies, particularly those reliant on China as part of a manufacturing chain, or as a source of income, such as the Australian education and tourism industries.
 
Recognising the significant and negative impact expected for the Australian economy, the RBA reduced its cash rate by 0.25% to a record low of 0.50%. One day later the US Federal Reserve followed announcing a 0.50% reduction in the US target cash rate to 1.00-1.25%, the first rate cut outside of a scheduled meeting since the GFC. While the continued willingness of central banks to act is expected to be a comfort to markets, whether the economic impact is greater or smaller will more likely depend on the severity of the virus and this remains a very big unknown.
 

Have the Coronavirus linked falls impacted Aon MySuper returns?

We think it is likely that all Australian super funds will report losses for February. The returns of Aon MySuper were also negative but we expect will be quite differentiated thanks to our ‘glidepath’ approach – when markets fall the portfolios of older members (having a shorter time to retirement) hold up better reflecting their larger investment in defensive assets such as bonds.

To illustrate how Aon MySuper has performed we estimate that in February:
  • Australian shares fell by 7.6%;
  • An Aon MySuper member aged 30 lost 5.5% (they have a high allocation to shares); and
  • An Aon MySuper member aged 65 lost a comparatively small 2.2%.

The full list of investment returns will be on the smartMonday website within a few days of each month end.

For members with a long time to retirement we encourage them to focus on achieving strong long-term returns, which requires a high exposure to growth assets, and to expect losses from time to time.

Can the long economic expansion continue?

A lack of spare capacity in the US (and Australian) workforce makes it difficult to sustain economic expansion without introducing stress. US unemployment is at 3.5% according to the US Labor Department, the lowest level for half a century. To be sure, the economy and jobs can keep humming away for a bit longer. However, even though such low unemployment rates are not currently resulting in significantly higher wages and inflation in the way they used to, there is still a logical barrier to the expansion that will emerge. Although not widely predicted, a potential outcome of this tension could be that inflation overshoots central banks expectations.

With shares up last year, how good is the fundamental support for that market rise? As of now, the jury is out. Across 2019 company profits generally stagnated or fell which suggests that liquidity, not earnings quality, are behind the strength. Markets now look expensive, even taking into account the falls in late February. The risk of future underperformance though seems concentrated by stock (to large stocks), global sector (in tech) and country (USA)

It is now a US election year. With impeachment off the table Donald Trump has the opportunity to seek a second term as President. His actions are expected to continue to have mixed benefits for markets. On one hand his expansionary stance is highly supportive of growth. On the other his nationalist “America first” agenda could lead to renewed escalation of trade tensions and uncertainty.

The Democrat nominee is yet to be named but the list of candidates is dwindling towards Joe Biden and Bernie Sanders. Of these candidates Bernie Sanders provides the starkest contrast to Donald Trump, and a Sanders vs Trump election could offer high US policy uncertainty and the potential for financial market volatility.

What is your outlook for smartMonday portfolios?

With last year’s good returns being checked by the Coronavirus linked falls, we are a little more positive for markets than we have been. Accommodative low interest rates and easy liquidity provided by central banks may dampen thoughts of weaker economic conditions. Looking forward we think the second half of 2020 should see the financial effects of the virus contained and a recovery in global growth underway. Even though we expect this short-term improvement, we think the global economy may be still transitioning from a decade long expansion to its next phase, remains susceptible to risk, and future return expectations should be tempered.

In the MySuper portfolio we are making adjustments to reduce our exposure to shares of “growth” companies, as these seem relatively expensive compared to other shares. Additionally, in our member choice Options we are planning to add alternative investments, such as property, that can reduce share exposure whilst maintaining the expected returns we target.

All market data provided or inferred is sourced from FactSet (www.factset.com). Other comments are Aon’s opinions or events widely reported in the press.

Aon Hewitt Limited (Aon) has taken care in the production of this document and the information contained in it has been obtained from sources that Aon believes to be reliable. Aon does not make any representation as to the accuracy of the information received from third parties and is unable to accept liability for any loss incurred by anyone who relies on it. The recipient of this document is responsible for their use of it.

The information contained in this article is also general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Please consider the relevant Product Disclosure Statement or contact us to speak to an adviser if you wish to discuss your MySuper portfolio.

© 2020 smartMonday is the business name of the Aon Master Trust ABN 68 964 712 340 (the Fund) which has been registered by Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (AHL) as sponsor of the Fund. The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757, AFSL 229757 RSE Licence L00001458. smartMonday PRIME, smartMonday Direct and smartMonday PENSION are all part of the Fund.
 

 

December 2019

Investment Update November 2019

For investment markets, the key global concern remains weakening economic growth and stubbornly low inflation. There are also several global risks to consider: political upheaval (Brexit, Hong Kong), US/China trade and tech disputes in need of a resolution, and a 2020 US Election that could install a new president with very different ideas to the current president, Donald Trump.
 
Adding to this complicated cocktail are the Aussie elements, notably a decent measure of very indebted Australian consumers, and it is easy to see the future holds constraints for Australian economic growth and Australian government intervention was and is needed.
 
Australian interest rates have moved a long way in a short time: 0.75% today represents a big and fast move when the starting point was 1.5% in May 2019. Yet the financial markets expect even more cuts – the chart below shows recent trading in the futures market which implies the expectation of another 0.25% cut to the Reserve Bank of Australia (RBA) cash rate around April next year.
 

 
This chart is updated daily and can be viewed on the ASX website via this link.
 
The problem with market expectation is that government policy change is most effective when it is not anticipated. Demonstrating this point is the surprise shift in stance by the US Federal Reserve Bank (the Fed) in January 2019 to be more supportive of the US economy. This action is widely accepted as the catalyst for the great returns global markets experienced this year.
 
RBA Governor Philip Lowe has tried to shift market expectations and attention on the RBA in two directions.
 
Firstly, he wanted the market to know that while the RBA stands ready to act, investors should not expect the RBA to keep on cutting rates aggressively. There is evidence to suggest there are diminishing returns from additional rate cuts, with both the Eurozone and Japan experiencing an inability to dig their way out of long-standing negative interest rate policies. Convincing the market that interest rate cuts are not inevitable can help increase the positive impact of any future (unanticipated) rate cuts. So far, this sidestep isn't going very well (hence the prediction in the chart above), although investors are increasingly viewing the RBA’s traditional monetary policy levers as being near their natural limits of effectiveness, and a further cut to 0.25% as less likely.
 
Secondly, Governor Lowe is asking the Australian government to spend. Expanding fiscal policy through additional Government spending and/or tax cuts can encourage economic growth and adds protection for Australians against the risk of a global downturn. While the Morrison government seems to be sticking to its plan of fiscal prudence, its election promise of tax cuts now delivered and recent announcements to bring infrastructure spending forward are positive news.
 
There is a third group of tools that could be called upon – collectively, these are called Quantitative Easing, or QE. Here the RBA could create new money and then use it to compete with other investors to buy securities, typically government bonds. The weight of the RBA’s action would crowd the targeted markets, push prices up and yields down, which influences the cost of long-term borrowing for consumers and businesses. The hope is that the other investors (banks, retirees, smartMonday) divest from low-yielding assets and reinvest into growth opportunities in the real economy.
 
In theory, printing money in this manner has few limits when the government is buying Australian government bonds as buying one’s own debt isn’t really increasing one’s indebtness. A relatively new theory supporting this approach is called Modern Monetary Theory. The key issue is that crowded-out investors might not invest in growth opportunities and then all that happens is that certain assets become even more expensive and perhaps inflation could get out of control.
 
It is currently not clear what actions the RBA might take and when. This story is still unfolding. Governor Lowe indicated in a recent speech that QE would not be seriously considered unless the official cash rate had dropped to 0.25%, unemployment was moving higher and inflation was moving lower. Lowes’ comments made since then seek to clarify that the introduction of QE should not be viewed as a certainty.
 
So, what is an investor to do?
 
Cash remains a poor option for generating returns, yet cash balances across Australia may increase as conservative investors keep away from growth assets, having viewed government action as reasons to be cautious. This has the effect of restricting Australian economic growth as capital remains uninvested.
 
The potential for increased government intervention in the bond markets is likely to >keep yields, and future returns of bonds, low for some time. Investors should now consider the risk of investing in bonds, as the low yields on offer today may prove to be poor compensation if bond prices fall - which could occur if interest rates expectations start to forecast interest rate rises.
 
Equity prices seem well supported by the government policies outlined above, and whilst we don’t envisage a continuance of the recent strong returns, there are plenty of reasons to think a severe equity downturn isn’t around the corner. However:
 
  1. Macro risks, such as the USA-China trade war and Hong Kong unrest, must be monitored.
  2.  The equity market leadership over the past few years has been narrow and focussed on the largest companies and growth stocks (such as technology companies) as shown in the chart.
 

Source: Factset, Standard & Poors, shown gross of fees and taxes
 
This leadership seems to have changed over the past quarter and such a shift can be favourable for active managers: for example, our core Australian equity manager outperformed the S&P/ASX 300 Index by 1.85% over the year to November 2019, gross of fees and taxes.
 
What is smartMonday up to?
 
  1. In our MySuper Option, we are in the process of swapping part of our passively invested global equity exposure for an approach that selects companies based upon well regarded and academically supported metrics. This can help us reduce exposure to the most expensive parts of the equity market which may vulnerable if the high expectations falter and extreme valuations unwind.
  2.  In our multi-asset “choice” Options, we are updating their strategic positions to increase the allocation to alternatives and, more generally, add diversification. Rebalancing the Options in this direction acknowledges the challenges described in this paper and adds diversification which can reduce risk of loss. 
  3. Our key active investment managers have retained their slightly defensive positioning in bonds (they feel bond market yields have fallen too far) and maintain their underweight position to the US equity market and growth companies, both in Australia and abroad.

These comments are not intended as personal advice. Past performance is not a reliable indicator of future performance. Article updated on 2nd December 2019.

DISCLAIMER
smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
Aon has taken care in the production of this document and the information contained in it has been obtained from sources that Aon believes to be reliable. Aon does not make any representation as to the accuracy of the information received from third parties and is unable to accept liability for any loss incurred by anyone who relies on it. The recipient of this document is responsible for their use of it.
© 2019 Aon Hewitt Limited
 

 

May 2019

1 July index increases

  • The member fee will increase (in line with increases in Average Weekly Ordinary Time Earnings) from $7.46 to $7.63 a month.
  • To ensure they keep pace with inflation (CPI), the current scales of minimum levels of cover for death and total and permanent disablement will increase by 1.3%.

May 2019

smartMonday scores MAX Award nomination in quest to go back to back

smartMonday is delighted to announce we’ve been shortlisted for the Most Outstanding Social Initiative of the Year in the Customer Engagement category at the MAX Awards for 2019.

The MAX (Marketing, Advertising and Sales Excellence) Awards recognise teams and organisations in the Australian financial services industry who have achieved excellence across a host of various categories.

smartMonday has been nominated for our multimedia campaign that celebrated International Women’s Day with thought leadership pieces, a website takeover, photography which showcased the superwomen that power smartMonday and a special newsletter sharing some stories of fearless females.

You can vote for smartMonday here or read up on some of those stories in the nest.
On the nomination, Head of smartMonday Solutions and Superannuation Executive of the Year, Jennifer Dean, says,

“I’m delighted to celebrate some of the extraordinary women that power smartMonday - but that’s one story in a sea of many. We’re committed to finding stories that connect, resonate with and inspire our members as we want to champion them every step of the way on their journey to enriched financial wellbeing.’

The nomination is smartMonday’s second in as many years, having won last year’s Website of the Year trophy for the relaunched smartMonday website. The Head of smartMonday’s Member and Corporate Services, Shannon O’Shea says the nomination a sign of the hard work behind the scenes and a hint for what’s to come for members,

“We’re not looking to be at the cutting edge of customer engagement for superannuation or financial services. We’re determined to be a leader in communicating full stop. This nomination is nice to have, but it doesn’t dim our determination to strive for better services for all our smartMonday members and corporate partners.”

That’s a view echoed by the Head of smartMonday’s Member Experience Tom McCann who was instrumental in delivering smartMonday’s first MAX Award,

“It’s exciting to be in the fray again. We’ve made a big push to deliver more digitally for members this year and to connect more regularly to provide increased value to them. The International Women’s Day campaign is evidence of that, alongside the work we’re doing with our member segmentation and more regular, immersive and detailed performance reporting for members. It’s a busy year ahead.”

The MAX Award for the Most Outstanding Social Initiative of the Year in the Customer Engagement category will be decided by popular vote. If you’d like to support smartMonday’s campaign we invite you to cast your vote here. Voting closes Friday 31 May.



smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

May 2019

Performance Pulse - MySuper in top quarter of performers

smartMonday’s MySuper investment option has just delivered some of the highest returns in the sector – benefiting a large slice of our membership (compared to SuperRatings Accumulation Fund Crediting Rate Survey, as at 31st March).

All members under 50-years old have enjoyed investment returns in the top 25% of comparably invested Super funds over 1, 3 and 5-year periods.

smartMonday’s Head of Investment Strategy and Solutions, Ed Tomlinson, adds some context to the recent returns.

sM: Ed, what’s driving these top returns?

Ed: MySuper allocates member balances across a diverse range of assets based on our expectations for investment returns over the long-term.

Given our long-term viewpoint, smartMonday’s portfolio has favoured investments with long-term growth prospects such as shares and property.

These assets have outperformed thanks to the continued economic expansion, supported by historically low borrowing costs.

sM: These returns have happened against a backdrop that’s included volatile windows. Is that fair?

Ed: You’re right in that markets have experienced volatility – a rapid change in prices up or down. This was most notable in the last quarter of 2018 with Australian shares - The S&P and ASX 300 Accumulation Index - falling by -8.41%, and then increasing by +10.92% in the first quarter of 2019.

This volatility reflected changing expectations in the growth outlook, in part driven by global headlines from the US-China trade negotiations and European political uncertainty.

Governments have been actively managing these risks. Examples of their support include the Reserve Bank of Australia keeping the cash rate at 1.5%, and the US Federal Reserve putting on hold its widely expected interest rate increases.

sM: Given the returns to date, and the economic forecasts is smartMonday’s MySuper well placed to address what’s ahead?

Ed: I believe growth assets can continue to outperform bonds over the long term. This means that for younger members, with a long time to retirement, we’re retaining their high exposure to growth assets.

However waves of market optimism and pessimism are expected and the price volatility seen recently is likely to continue. For retired and near-retired members, we are progressively reducing their exposure to growth assets with reference to their age, and this can be expected to further dampen the short-term impact of volatility.


For more information about investments in smartMonday contact your adviser, or if you are not advised reach out to the smartCoach.



smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

April 2019

April returns now available

Latest returns to 30 April 2019
PRIME and DIRECT
PENSION

March 2019

March returns now available

Latest returns to 31 March 2019
PRIME and DIRECT
PENSION

March 2019

Commentary on the Royal Commission

Commentary on the Royal Commission

In February the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was tabled in Parliament.

In keeping with smartMonday’s approach for honest, no-nonsense communication we made a commitment to members to provide a considered response. We are delighted to be able to fulfil that promise in the most open forum we have, our website.

While our internal team evaluated the Commissioner’s report we believed there was also a need to supplement this with independent analysis. smartMonday enlisted the services of leading global advisory firm to garner unfiltered insights.

That summary decided to consider three headline areas

  • Governance and the regulatory environment;
  • Member engagement and financial advice;
  • A greater focus on member outcomes.
     

Devoting two of their three focus areas to members underlined the important weighting that fund’s must allocate to members. This is a view smartMonday has always shared, as we continue striving to provide enhanced customer outcomes every single day.

Not with big leaps, but with smart, easy actions.

A greater focus on member outcomes

The Commissioner’s report proposed that all super funds should undertake an annual member outcomes assessment against key metrics including fees and investment performance to ensure members are provided with a competitive default product against alternatives. It was recommended this would take place independently, at least every three years and would cover all investment options offered by a fund.

Publicly available research from KPMG states, “This should form the key tenet for the ongoing viability and sustainability of funds going forward.”

smartMonday fosters a culture of financial wellbeing for our members. We know that investment performance is an important member consideration and we’re proud of our global investment pedigree in this area. Over a three-year period up to 31 December 2018 the majority of smartMonday’s investment options outperformed their respective medians. Performance information is readily accessible on our website, but we’re taking steps to give more prominence to investment performance so that all members find it even easier to understand how we are performing in this area - any day of the week, rather than every three years.

Alongside investment performance, fees will always be an important differentiator for members. smartMonday’s maximum investment management fee for MySuper is 0.28% - which is positioned considerably below the industry median of 0.85%.

We remain resolute in ensuring every one of our members can understand their super performance and track their outcomes clearly. As well as enhancements to our award-winning website in 2018 we also launched an interactive statement summary for members to easily and quickly interact with their financial position. There will be further changes to the website, and to our member communications as we listen to feedback from our most important stakeholders - our members - to ensure we are providing the best in breed member experience.

Member engagement and Financial Advice

The Royal Commission highlighted the importance of assisting members with financial literacy to enable them to make informed decisions regarding their superannuation fund.

smartMonday has always believed that member education and greater interaction will help bolster outcomes within superannuation. It’s why we invested in establishing the 8 Habits of a Financially Fit Human seminar series delivered by our smartPartners. It’s also why we launched our nest content hub which houses podcasts, feature stories and smart, easy actions on key financial topics.

It’s programs like these, alongside our quarterly financial education newsletter Monday Matters that are the building blocks our members can continually utilise to grow their financial wellbeing.

smartMonday remains an industry-leader in member engagement, supported by an active member ratio of 92% which according to APRA research from June 2018 is materially higher than the industry median of 81%.

Despite that we acknowledge there is always greater work to do to help members more holistically grasp their understanding and control of money matters and we’re energised by that task.

Our team’s goal is to accelerate the delivery of best outcomes to members across every step of an enhanced, simplified super journey to help individuals better negotiate and understand the individual nature of their super journey.

Governance and the regulatory environment

A central theme of the Royal Commission was the requirement to improve governance and increase regulation of trustees to ensure there is independence in the decision-making process and members best interests remain at the centre of all trustee decisions.

The Commissioner proposed:

  • Fund trustees should be prohibited from acting in any other role to remove any potential conflicts of interest.
  • The requirement for trustees to have their performance assessed annually and to demonstrate a professional understanding of the superannuation system and investments (either gained from industry experience or via formal training).
  • A restriction on the use of members’ monies, such as sponsorship or corporate entertainment and other promotional activities, which are not directly related to enhancing member outcomes.
  • Civil penalties applicable to trustees in breach of their best interest obligations.
     

smartMonday embraces a continual cycle of improvement, with members always at the core of that decision-making process. Given we’re not affiliated with a union or bank - we’re able to continue to put members first. 

The trustee of smartMonday is Australia’s leading independent, specialist provider of superannuation trustee services - Equity Trustees Superannuation Limited - who meet industry best practice and remain responsible for ensuring the fund remains legally compliant and always acts in the members best interests.

One-hundred-word summary

The Royal Commission dedicated less than two in every ten submissions to superannuation, but it was a catalyst for introspection.

It served to highlight the conflicted nature of commission-driven incentives and the corrosive outcomes that affords, while underlining the importance of independent, accountable trustees and strong regulatory frameworks.

Crucially it illuminated the need to bolster member education and engagement to empower greater transparency around fees and returns, equipping members with clear, comparable information to drive superior outcomes. 

smartMonday remains committed to working in partnership with our members to bolster their financial wellbeing and make their superannuation experience positive, uncomplicated and rewarding.



smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

February 2019

February returns now available

Latest returns to 28 February 2019
PRIME and DIRECT
PENSION

February 2019

Productivity Commission Report

At the start of 2019 the Productivity Commission released a 722 page report called Superannuation: Assessing Efficiency and Competitiveness.

Eighteen months in the making it was certainly well researched.

The Australian Government can use this independent research to shape future superannuation policies. As the report states, “Policy deliberations can be informed by both the recommendations of this inquiry and those of the Royal Commission,” (Overview - Superannuation: Assessing Efficiency and Competitiveness - Inquiry Report p31).

While the Productivity Commission report is a considered document, with valuable learnings, we don’t need a quarter of a million-word report to remind us of the five most important words we strive for everyday - always put the member first.

In 2016, long before the Productivity Commission report was tabled, we launched a new arm of our servicing, the Member Experience team. That growing team’s goal was to accelerate our delivery of best outcomes to members across every step of an enhanced, simplified super journey. Late last year we also introduced members to the smartCoach to help them better negotiate and understand the individual nature of their super journey.

We invite you to read the summary of the Productivity Commission report here.

We’ve also included four points that you may have missed in media coverage of this report.

These points have not been editorialised and are produced as they appeared in the original independent Overview - Superannuation: Assessing Efficiency and Competitiveness - Inquiry Report -

  1. “Australian funds in our survey also preformed comparably, on average, to large pension funds in developed countries across most asset classes.” P 9
  2. “Superannuation funds on average outperformed a market index benchmark in most individual asset classes over the last ten years to 2017.” P 51
  3. “Well designed life-cycle products can produce benefits greater than or equivalent to single strategy balanced products, while better addressing sequencing risk for members.” P 55
  4. “The default segment has on average provided better outcomes for members than the system as a whole.” P 64


smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

February 2019

Royal Commission statement

Statement regarding Royal Commission

While the topic of superannuation was the focus of fewer than two in every ten submissions made to the Banking Royal Commission -  the findings of the Commission provide many important considerations for our industry.

Given the detailed nature of the Commissioner’s final report, we plan to carefully evaluate his recommendations and to provide a considered response to our members.

In the meantime, you can access the final report here.



smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

January 2019

January returns now available

Latest returns to 31 January 2019
PRIME and DIRECT
PENSION

January 2019

Mid-Year MARKET UPDATE

The first half of the financial year has been a prickly time for global markets.
Ambiguity regarding the trade relationship between the United States and China has been a catalyst for a lot of this uncertainty.

A benchmark used to measure international markets, the MSCI World Index, reveals a dip in value of almost 5 percent between July and November in 2018.

It’s been a volatile time for markets, with some investments hit harder than others. In three months the share price of index heavyweight Apple has fallen from US$ 229 to US$ 142. A single stock has shed a dollar a day, over a 90-day period.

The connected nature of the global financial ecosystem has seen international angst ripple through at home. Over the same period last year, the top 300 companies on Australia’s Stock Exchange lost nine percent of their value in just under four months.

To mitigate the risk of over-exposure in a single investment type for default members smartMonday has ensured there is diversity in their asset types held by our default members. This spans a broad spectrum of investments including international property, global infrastructure, international and domestic equities and bonds.

While portfolio performance is impacted by global phenomena, it isn’t dented by events like Successor Fund Transfers. All our members that were transitioned into smartMonday from The Executive Superannuation Fund and the Enterprise Plan – now smartMonday TESF and smartMonday ENTERPRISE - maintained their market exposure during the relocation and any future movement in the market will also be experienced.

Thought of another way, had the transition not occurred members would still have experienced a dip in their portfolios due to the downward trend overall.

The Australian Government’s Productivity Commission Inquiry Report Superannuation: Assessing Efficiency and Competitiveness revealed, “about thirty percent of Australians have low financial literacy.” Even for financial wizards, the market movements can be hard to understand. That’s why it can be helpful reaching out to smart Monday’s smartCoach.

The smartCoach can provide advice on your superannuation including investment options, how to maximise your contribution strategy and your overall retirement and insurance adequacy. 

To access this member benefit email smartcoach@smartmonday.com.au, phone 1300 262 241, or use the Live Chat function available on smartmonday.com.au

smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.

Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document.

January 2019

Notice to members who received letters re logging into the portal

(This notice is not intended for smartMonday PRIME TESF or smartMonday PRIME Enterprise members) 

Some members have recently received a letter containing instructions on how to log into your account on the member portal which included the use of a PIN. Those letters were inadvertently released during a system upgrade and should be ignored.  Logging into the smartMonday member portal does not require the use of a PIN. Please be assured that member’s personal data is still secure within our systems and this incident has not exposed that data to any unauthorised access or usage.  If you have any questions about this matter please call our Contact Centre on 1300 880 588.  


smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document. Past performance should not be considered a guide to future performance. © 2018 Aon Hewitt Limited

 

December 2018

December returns now available

Latest returns to 31 December 2018
PRIME and DIRECT
PENSION

December 2018

Processing returns to normal

After extensive end-to-end testing members of smartMonday are again able to access all the operational features of their accounts.
 
The lift of the extended transactional pause at 3pm (13 December) marked a return to full service for all members.
 
smartMonday members now have unrestricted access to contributions, rollovers, investment switches, account balance checks and benefit quotations as well as commutation payments and online services.
 
Requests lodged during the transactional freeze window will be processed in the order in which they were received.

smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. In any case, any recipient shall be entirely responsible for their use of this document. Past performance should not be considered a guide to future performance. © 2018 Aon Hewitt Limited

 

December 2018

Extension to transaction processing hold

November 2018

November returns now available

Latest returns to 30 November 2018
PRIME and DIRECT
PENSION

November 2018

A milestone year for smartMonday

November 2018

Investment Note: ASX Performance

Watching a dip in the share market can be a nerve-wracking time for members but while drops can seem shocking, it’s important to remember they aren’t permanent and knee-jerk responses rarely produce the best outcomes for members.
 
Earlier this year, as part of smartMonday’s perpetual review process, our most popular investment option - the Aon MySuper lifecycle - received its regular investment health check and in July we proactively elected to make key enhancements to it.
 
These improvements included adding a small defensive allocation for younger members to reduce volatility. For older members, retaining the dominant allocation to defensive assets was important for preserving balances, as was adding a small allocation to growth to counteract member balance erosion caused by inflation and capital drawdowns.
 
smartMonday’s Senior Investment Specialist, Jolanta Willetts, points to the dynamic re-allocation between growth and defensive assets within Aon MySuper as an effective way to enable members to benefit from the potential higher returns of growth assets at a time in their lifecycle where they can ride out such shocks, while using the increasing defensive allocation as members age, adds more protection when there is less capacity to absorb such market fluctuations.
 
“We identified a need to introduce greater diversity and protections in the portfolio earlier than we did historically. This helps buffer members from the market oscillations recently witnessed in the riskier asset classes like Australian shares. The defensive allocation continues to play the lead role for those approaching retirement - when capital preservation becomes more critical.”
 
Members know superannuation is a long-term investment, and given Aon is responsible for one in every five dollars invested globally in the pension market we bring worldwide expertise to every stage of our investment strategy. It’s why for three decades we’ve been well placed to deliver portfolio growth against a suitable degree of risk and why we’ll continue to strive for that in the future.
 
As we continue to focus on a long-term strategy that is appropriate for our broad superannuation membership, your personal circumstances can have a meaningful impact on what might be the right investment for you.
 
Now, as ever, is a great time to seek help from your financial adviser. If you don’t have an adviser you can reach out to our smartCoach team on 1300 COACH 1 (1300 262 241) to ensure your investment strategy aligns with your individual risk appetite.

smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the fund). The Trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund. Aon has taken care in the production of this document, the contents of which has been obtained from sources that it believes to be reliable. Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose that this document may be used and accepts no liability for any loss incurred by anyone who relies on it. Past performance should not be considered a guide to future performance.
 
The information in this document is general in nature and should not be relied upon as advice (personal or otherwise) as your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider the relevant Product Disclosure Statement or speak with your financial adviser. If you do not have a financial adviser, contact us   to ask about the advice services you can access through your membership.
 
© 2018 Aon Hewitt Limited

October 2018

Courtesy Notice: smartMonday's transaction processing hold

smartMonday is welcoming in almost enough new members to fill the Sydney Cricket Ground and we have to make sure the transfer is smooth and secure.
 
The most effective way to safeguard existing members and new arrivals into smartMonday is to implement a brief and proactive transaction processing hold.
 
Current Members:

Will only be impacted for a few days with the pause commencing on Tuesday 4 December before returning to business as usual on Monday December 10.
 
Former TESF and Enterprise members:
Members transferring into smartMonday will be in a longer processing hold from 19 November until 10 December due to the complex nature of their transfer.
 
What’s on hold:
The pause applies to all transaction requests including member contributions, rollovers, investment switches, account balance and benefit quotations, benefit/lump sum commutation payments and online services. 
 
Once processing resumes:
Transaction requests not finalised before the hold will be processed as quickly as possible in order of date and time received using the price applicable on the date of processing.
 
Please call or email us if you would like more information.
 
Current smartMonday members – 1300 880 588
smartMonday TESF members – 1300 614 644
smartMonday Enterprise members – 1800 816 575

September 2018

September returns now available

Latest returns to 30 September 2018
PRIME and DIRECT
PENSION

August 2018

August returns now available

Latest returns to 31 August 2018
PRIME and DIRECT
PENSION

July 2018

July returns now available

Latest returns to 31 July 2018
PRIME and DIRECT
PENSION

June 2018

June returns now available

Latest returns to 30 June 2018
PRIME and DIRECT
PENSION

June 2018

smartMonday secures Super Fund of the Year nominations in award-winning month

June 2018

May returns now available

Latest returns to 31 May 2018
PRIME and DIRECT
PENSION

May 2018

1 July index increases

  • The member fee will increase (in line with increases in Average Weekly Ordinary Time Earnings) from $7.29 to $7.46 a month.
  • To ensure they keep pace with inflation (CPI), the current scales of minimum levels of cover for death and total and permanent disablement will increase by 1.9%.

May 2018

Aon MySuper Investment Strategy Change

30 April 2018

April returns now available

Latest returns to 30 April 2018
PRIME and DIRECT
PENSION

31 March 2018

March returns now available

Latest returns to 31 March 2018
PRIME and DIRECT
PENSION

28 February 2018

February returns now available

Latest returns to 28 February 2018
PRIME and DIRECT
PENSION

31 January 2018

January returns now available

Latest returns to 31 January 2018
PRIME and DIRECT
PENSION

31 December 2017

December returns now available

Latest returns to 31 December 2017
PRIME and DIRECT
PENSION

16 December 2017

Web browser security upgrades to take effect

To better protect your super we are implementing some security upgrades effective 16 December 2017. As a result, some older browser versions will no longer be supported so it is important that members ensure their internet browser is up to date.

Updating your browser will ensure you can continue to login and access your account with the latest security. The following links have been provided for your convenience where the latest versions of most popular internet browsers can be downloaded.

Microsoft Internet Explorer
Google Chrome
Mozilla Firefox
Apple Safari

Please note that if you are currently using Microsoft Edge, no updates will be required.
 

7 September 2017

9 September Service interruptions

Please note that systems maintenance that was scheduled for Saturday, 2 September has been moved to Saturday, 9 September. This will interrupt access to our online services between 9 am and 5 pm (Sydney time) on that day.

1 June 2017

1 July 2017 Budget tax changes

1 June 2017

1 July insurance changes

1 June 2017

1 July index increases

  • The member fee will increase (in line with increases in Average Weekly Ordinary Time Earnings) from $7.14 to $7.29 a month.
  • To ensure they keep pace with inflation (CPI), the current scales of minimum levels of cover for death and total and permanent disablement will increase by 2.1%.

10 May 2017

2017 Federal budget update – Russell’s summary

Member enquiries

Have an enquiry?
Please choose the appropriate contact below:

smartMonday
Not TESF or Enterprise
 
PO Box 1949
Wollongong NSW 2500
smartMonday TESF
Includes previous TESF members
 
PO Box R713
Royal Exchange NSW 1225
smartMonday Enterprise
Includes previous Enterprise members
 
PO Box 1282
Albury NSW 2640
smartMonday PENSION
Includes previous TESF Pension members
 
PO Box 1282,
Albury NSW 2640

Not sure who to call?

Speak to a smartCoach on 1300 262 241 or email smartcoach@smartmonday.com.au

Make Mondays matter

smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
© 2020 Aon Hewitt Limited – Financial Services Guide

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