The latest media releases and other key information and news about Aware Super.
Key information
Who are we?
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Previously known as First State Super we changed our name to Aware Super in September 2020.
Aware Super is a name that reflects our members and what we stand for. It echoes the strengths of our past, aligning to our purpose to be a force for good in superannuation, retirement, and advice, driving better outcomes for our members, their families, and communities.
Aware Super has been the fund for people who value community since 1992, and we’re now one of Australia’s largest funds and continuing to grow. We merged with VicSuper and WA Super in 2020 and now manage $150 billion in savings for more than 1 million members located across the country.
Our members work in roles that breathe life into their communities and they expect us to do the same. So, we invest in assets that we believe will make a positive difference today – improving our communities, building a more sustainable economy and supporting employment both locally and globally at the same time as providing strong long-term returns.
Discover how we’re helping members do well financially while doing good in the world. Learn more.
The facts
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Asset pool |
$150 billion |
Members and clients |
1.1 million |
Industries |
Health Care, Education, Aged Care and Disability Support Sector, Police, Fire and Emergency Services, Public Sector |
% women |
70% |
How to refer to us |
Aware Super |
When referencing previous brand First State Super |
Aware Super (a new name for First State Super) |
Our people
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Our trustee board is made up of an independent chair and 14 member and employer representatives that ensure our fund acts in the best interests of members at all times.
Annual report
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To request an interview or if you require further information, please contact media@aware.com.au
Key contact
Di Lloyd |
Senior Manager External Affairs |
0419 177 599 |
Adverse Publicity Notice
The Federal Court of Australia has ordered Aware Financial Services Australia Limited (Aware Financial Services) (previously known as State Super Financial Services Australia Limited or StatePlus) to publish this notice. Aware Super Pty Ltd acquired Aware Financial Services on 6 June 2016.
On 17 February 2022, Justice Moshinsky of the Federal Court of Australia (in proceeding VID 551 of 2020) ordered Aware Financial Services to pay a pecuniary penalty of $20,000,000 for contravening Australia’s financial services laws.
The Court found that Aware Financial Services contravened these laws between 21 August 2014 and 30 June 2018 by accepting payments from Advice Clients when there were reasonable grounds to believe that it would not be able to supply those reviews to all such clients within an annual period. Advice Clients were (a) Bundled Clients who received written disclosure from Aware Financial Services on or after 1 April 2013 that they would be provided with an Annual Review Service; and/or (b) Unbundled Clients who entered into an ongoing advice service arrangement that included provision of an Annual Review Service.
In many cases, Aware Financial Services did not in fact provide the promised reviews. Between 21 August 2014 and 30 June 2018, approximately 25,300 clients paid fees to Aware Financial Services without receiving the appropriate number of annual reviews from Aware Financial Services.
After reporting this conduct to the Australian Securities and Investments Commission (ASIC), Aware Financial Services has remediated approximately $104.8 million in fees, interest and lost earnings to clients who did not receive and did not decline their annual review entitlements.
Aware Financial Services agrees that it failed to maintain an adequate standard of internal controls and compliance systems that may have avoided the potential harm to consumers. It has since made changes designed to uplift those controls and compliance systems in an effort to ensure this conduct does not recur.
Further Information
Aware Financial Services’ misconduct contravened the following financial service laws:
- section 12DI(3) of the Australian Securities and Investments Commission Act 2001 (Cth); and
- sections 912A(1)(a), (b) and (c) of the Corporations Act 2001 (Cth).
For further information about Aware Financial Services’ misconduct, see the following links:
- statement of facts agreed between Aware Financial Services and ASIC
- Justice Moshinsky’s judgment on penalty; and
- ASIC media release
Media releases
2022
Show more2021
Show moreAware Super backs essential workers with Canberra affordable housing investment
175.1KB PDF
Aware Super acquires iconic Melbourne site for new essential worker affordable housing
123KB PDF
Techtronic Industries commits to $188m facility at The YARDS, Australia’s first industrial community
233.7KB PDF
Macquarie Infrastructure and Real Assets (MIRA) and Aware Super enter binding agreement to acquire Vocus Group at A$5.50 cash per share
124.1KB PDF
2020
Show more7.12.2020 - Aware Super CEFC Adamantem target ambitious emissions reduction across private equity sector
132.6KB PDF
7.12.2020 - Under-utilised New York City real estate converted into battery storage hubs
107.1KB PDF
09.11.2020 - Aware Super welcomes State Governments investment in Australian renewables
119.8KB PDF
11.10.2020 - Lendlease and Aware Super secure major urbanisation project in New York
104.2KB PDF
24.09.2020 - Shadow Minister for Housing to launch Aware Super affordable housing project
149.3KB PDF
17.09.2020 - Lendlease and Aware Super Execute Nearly $200 Million Recapitalization in Boston and Chicago
164.3KB PDF
16.09.2020 - APG and Aware Super partner for a European aparthotel expansion with CityID
153.5KB PDF
25.08.2020 - Investors eye build-to-rent as key element of housing affordability solution
124.2KB PDF
03.08.2020 - BNP Paribas issues A$140m green bond to support Australian climate transition projects
133.8KB PDF
09.07.2020 - Time for super funds to take immediate action against climate change
180.2KB PDF
01.07.2020 - First State Super and VicSuper merge creating one of Australia’s largest industry funds
186.3KB PDF
11.06.2020 - Global investors call for urgent action on sustainable investment to support COVID-19 recovery
178.1KB PDF
09.04.2020 - Financial advice provides much-needed peace of mind for retirees during COVID-19 pandemic
178.1KB PDF
2019
Show more19.12.2019 - First State Super increases stake in Sunshine Coast University Hospital
140.7KB PDF
28.11.2019 - Urgent action needed to end women’s economic insecurity: First State Super
147.1KB PDF
23.09.2019 - Resignation of Suzette Thurman, Group Executive, Risk & Compliance
123.8KB PDF
10.09.2019 - First State Super recognised as global responsible investment leader
115.9KB PDF
08.07.2019 - Affordable Housing - First State Super leads in Affordable Housing
155.6KB PDF
03.07.2019 - Shirley Smith - winner of First State Super Lifetime achievement award
139.3KB PDF
04.04.2019 | VicSuper and First State Super commence early stage merger discussions
158.3KB PDF