REI Super CEO Mal Smith said the change would open up membership of the fund to anyone, but particularly to existing members’ spouses and family members, self-employed people in the industry, and those working closely with the industry, like valuers, conveyancers, marketers and tradespeople.
Mal Smith said: “REI Super grew out of the real estate industry, and we are the only industry fund specifically for the sector.
“We’ve grown with the industry and we are in step with its needs. We know it’s a different industry to what it was when we started.
“Growth in self-employment within the industry and in sectors associated with real estate means that not everyone is attached to a participating employer any more.”
REI Super one of eight funds to double members' money since GFC
Independent ratings agency, SuperRatings, has named REI Super as one of only eight funds to achieve an accumulated return of more than 100% on its balanced option since the Global Financial Crisis.
REI Super’s Trustee Balanced option has achieved a 100.6% accumulated return up to 31 May 2016 from 1 March 2009, which equates to an annual return during that period of 10.1%.
REI Super CEO Mal Smith said: “Our investment decision-making processes are robust, factual, and based on sound data.
“Self-managed funds may appear to offer more control, but that only holds true if investment decisions are consistently, continuously and rigorously applied.
“Successful investment management is not a simple matter of ‘set and forget’ – as these results show.”