Aware Super Company Profile

Background

Aware Super is one of Australia's largest profit-for-member superannuation funds, managing over A$160 billion in assets for more than 1.1 million members as of July 1, 2023. Established in 1992 as First State Super to serve New South Wales public sector employees, the fund expanded its membership to all Australians in 2006. Subsequent mergers with Health Super in 2011, VicSuper, and WA Super in 2020 have significantly increased its scale and capabilities. Aware Super is committed to delivering strong, risk-adjusted returns while considering the environmental and social impact of its investments.

Key Strategic Focus

Aware Super's strategic focus centers on active investment management across alternative assets, including infrastructure, property, and private equity, complemented by allocations to liquid markets. The fund emphasizes responsible ownership by integrating environmental, social, and governance (ESG) factors into its investment strategy. In 2023, Aware Super expanded its global presence by opening an office in London, aiming to leverage on-ground expertise for international investment opportunities.

Financials and Funding

As of July 1, 2023, Aware Super manages over A$160 billion in funds under management. The fund's growth has been bolstered by strategic mergers and a commitment to delivering strong long-term returns for its members.

Pipeline Development

Aware Super's investment pipeline includes significant commitments to digital infrastructure and renewable energy. In July 2023, the fund partnered with DigitalBridge to invest in Switch, a 100% renewable-powered data center platform, aligning with its strategy to expand into North American and European markets.

Technological Platform and Innovation

Aware Super has undertaken a major digital transformation to enhance member services and investment capabilities. The fund's award-winning app and online portal enable members to perform various transactions digitally, reflecting its commitment to leveraging technology for improved member experiences.

Leadership Team

Deanne Stewart: Chief Executive Officer

Appointed CEO in 2018, Ms. Stewart has led Aware Super through significant growth and transformation, including major mergers and digital initiatives.

Sally Collins: Chief Operating Officer

Joined Aware Super in April 2024, bringing extensive experience in transformational change and execution programs from previous roles at HESTA, AXA, CBA, and NAB.

Jo Brennan: Group Executive Member Engagement and Advice

Transitioned from COO to this newly created role in April 2024, focusing on optimizing digital technology and financial advice services to enhance member experience.

Steve Travis: Group Executive Member Growth

Leads the Acquisition, Connect and Grow, and Retire teams, with an expanded scope to include Corporate Development, focusing on enhancing value through mergers.

Katrina McPhee: Chief of Staff and Group Executive Communications and Advocacy

Oversees communications, public affairs, and advocacy, in addition to her Chief of Staff responsibilities.

Leadership Changes

In February 2024, Aware Super announced an executive reorganization, introducing an expanded Chief Operating Officer role and closer integration of financial advice services. Sally Collins was appointed COO, effective April 15, 2024, while Jo Brennan transitioned to Group Executive Member Engagement and Advice. Additionally, Tim Elliott, Group Executive Finance, Strategy and Transformation, departed the organization after more than 11 years.

Competitor Profile

Market Insights and Dynamics

The Australian superannuation industry is highly competitive, with funds vying to deliver strong returns, low fees, and superior member services. The market has seen significant consolidation, leading to the emergence of mega-funds with substantial assets under management.

Competitor Analysis

AustralianSuper: The largest super fund in Australia, managing over A$300 billion in assets. AustralianSuper has a strong focus on global investments and has established a significant international presence.

HESTA: A leading industry super fund with a focus on health and community services, managing over A$68 billion in assets. HESTA emphasizes responsible investment and has been recognized for its ESG initiatives.

UniSuper: Catering primarily to the higher education and research sector, UniSuper manages over A$100 billion in assets and is known for its strong investment performance and member services.

Strategic Collaborations and Partnerships

Aware Super has engaged in significant partnerships to enhance its investment portfolio and member services. In July 2023, the fund partnered with DigitalBridge to invest in Switch, a renewable-powered data center platform, aligning with its strategy to expand into digital infrastructure and renewable energy sectors.

Operational Insights

Aware Super's strategic considerations include leveraging its scale to offer competitive fees and superior member services. The fund's commitment to responsible investment and ESG factors differentiates it in the market, appealing to members who value sustainability alongside financial returns.

Strategic Opportunities and Future Directions

Aware Super aims to continue its growth trajectory by expanding its global investment footprint, particularly in Europe and North America. The establishment of the London office in 2023 is a step towards accessing international investment opportunities.