Perpetual Superannuation Limited (PSL) is a member of the Perpetual Limited Group of Companies (Perpetual). As one of the most trusted providers of financial products and services in Australia, Perpetual has long been recognised for initiative, integrity, security and vision.
PSL is also referred to as the ‘Trustee’ and is the entity within Perpetual responsible for superannuation to provide a product suite to meet the needs of our target market advised clients seeking greater control and flexibility over their retirement savings.
As the holder of a Registrable Superannuation Entity (RSE) license, PSL is regulated by the Australian Prudential Regulation Authority (APRA). By having a single entity within Perpetual as the RSE for all APRA regulated superannuation funds, PSL is able to focus solely on superannuation issues within Perpetual thereby helping it to discharge its fiduciary and trustee duties to fund members.
The Board of Directors oversees all aspects of PSL and is made up of 3 independent directors and 2 Perpetual Group executive directors. Further information on the directors is provided below.
Perpetual’s business divisions are responsible for manufacturing, offering, distributing and marketing superannuation products. These business divisions include Perpetual Investments and Perpetual Private who look after the following superannuation products (collectively the “Funds”).
|Fund name||Fund acronym||ABN||Registrable superannuation entity number (RSE)|
|Australian Eligible Rollover Fund
An eligible rollover fund designed to accept transfers from other superannuation funds or retirement savings account providers.
|AERF||81 932 639 940||RSE 1067750|
|Perpetual’s Pooled Superannuation Trust
A flexible and practical investment solution providing a range of Perpetual managed funds for trustees of complying superannuation funds.
|PPST||89 544 906 125||RSE 1057027|
|Perpetual Private Super Wrap
A comprehensive superannuation investment solution providing wide investment choice and flexibility including a range of ASX Listed Securities, Term Deposits and professionally managed investment options within the one convenient administrative package.
|PPSW||22 897 174 641||RSE 1074406|
|Perpetual’s Select Superannuation Fund
A simple superannuation investment solution providing a range of multi manager, multi asset class and single asset class investment options.
|PSSF||51 068 260 563||RSE 1057034|
|Perpetual Small APRA Funds
A comprehensive trustee, administration and custody service for DIY superannuation funds providing wide investment choice and flexibility.
|Perpetual WealthFocus Superannuation Fund
Offers a superannuation investment solution providing a range of professionally managed investment options with the one convenient administrative package.
|WFSF||41 772 007 500||RSE 1057010|
PSL is committed to providing quality service to its members and through various internal and external relationships, employs competent and specialist staff to manage our funds on a day to day basis under the direction of and by delegation from the Trustee Board. The Trustee Board has a number of delegated committees in place as executive bodies that strategically govern and oversee the operation and investments of the funds and report on their services to ensure that PSL runs efficiently on a day-to-day basis and that key obligations and service standards are met or exceeded.
PSL’s key service providers, whose services may affect a material business activity, are listed below. These service providers may also have various consultants and panels of advisers that they use for specialist advice, but the following reflect the key relationships within Perpetual and with external service providers.
|Service Provider||ABN||Services Provided|
|Perpetual Limited||22 000 431 827||Group insurance arrangements and management staff including Risk & Compliance, Internal Audit, Legal, HR, Finance, IT, Secretariat & Product Management|
|Fujitsu Australia Limited (via Perpetual Services Pty Limited through Perpetual Limited)||19 001 011 427||Group IT and application management|
|Datacom Systems (AU) Pty Ltd (via Perpetual Services Pty Limited through Perpetual Limited)||39 135 427 075||IT Service desk, onsite IT support and Cross vendor service management and Service Management System|
|Tech Mahindra Limited (via Perpetual Services Pty Limited through Perpetual Limited)
||15 092 511 558
||Administration services for PPST, PSSF and WFSF including unit registry, client administration, insurance administration and reporting
|Perpetual Investment Management Limited||18 000 866 535||
Custody and Administration services for PPST, PSSF and WFSF including unit registry, client administration, investment administration, custody, insurance administration and reporting.
Investment Management for PPST, PSSF and WFSF
|RBC Investment Services Trust (via Perpetual Investment Management Limited)||75 116 809 824||Sub-Custody and Administration services for PPST, PSSF and WFSF including unit pricing, fund accounting and investment administration|
|Perpetual Trustee Company Limited||42 000 001 007||Custody and Administration services for PPSW, SAF’s and the AERF including fund administration, client administration, investment administration, custody, insurance administration and reporting|
|Jana Investment Advisers Pty Ltd||96 002 071 749||Investment Advisor for the AERF|
|Jacques Martin Administration & Consulting Pty Limited||24 006 787 748||Administration services for the AERF|
|Macquarie Investment Management Limited (via Perpetual Trustee Company Limited)||66 002 867 003||Administration services for PPSW and the SAF’s including fund administration, client administration, investment administration, custody, insurance administration and reporting|
|Microsoft Pty Ltd (via Perpetual Services Pty Limited through Perpetual Limited)||29 002 589 460||Cloud based O365 Exchange platform supporting business email services.|
||92 000 010 195
||Death, total and permanent disablement (TPD) and income protection insurance cover - PPSW|
|AIA Australia Limited||79 004 837 861||Death, total and permanent disablement (TPD) and income protection insurance cover – WFSF, PSSF and PPSW|
|Bond Street Custodians Limited (via Perpetual Trustee Company Limited)||57 008 607 065||Custody services for PPSW and the SAF’s|
|KPMG||51 194 660 183||External Auditor|
Fund Annual Reports and Financial Statements
The annual report for each relevant superannuation fund can be found here.
The financial statements for PSL are provided here.
Policies and Processes
PSL generally utilises the policies and process of its related party entities, however, it would like to specifically note the following policies.
PSL Proxy Voting Policy
PSL maintains a Proxy Voting Policy where it outlines its approach to exercising its right to vote for the various types of investments that it may hold through its Funds.
PSL Conflicts Framework
PSL maintains a Conflicts Management Framework to ensure the management of conflicts of interest. This framework outlines PSL’s approach to the management of conflicts and aims to ensure that PSL identifies, takes all reasonably practicable actions to avoid and/or prudently manages all potential and actual conflicts in its business operations. It sets out the means by which PSL leverages the broader group so as to effectively identify and manage conflicts as well as comply with regulatory / legislative obligations.
PSL Register of Relevant Interests and Relevant DutiesIn accordance with PSL Conflicts Management Framework, PSL maintains a Register of Relevant Interests and Relevants Duties for PSL, its associates and responsible persons. Click here to view the current register.
PSL maintains a Diversity Policy which includes a requirement to establish measurable objectives for achieving gender diversity on the Board and to assess these objectives and progress in achieving them on an annual basis.
The Board’s gender diversity objective is currently met.
Our Trustee Board and related information
Board Appointment and Renewal
It is PSL's policy that its Board of directors, collectively, comprise an appropriate mix of skills, experience and personal attributes, and to ensure that the Board remains open to new ideas and independent thinking, in order to enhance Board performance and ensure that the board acts in the best interests of beneficiaries of PSL’s superannuation funds.
Information about our Directors and Executive Officers
The Board of Directors oversees all aspects of PSL and is made up of 3 independent directors and 2 Perpetual Group executive directors.
Record of Attendance
INSURANCE IN SUPERANNUATION VOLUNTARY CODE OF PRACTICE
PSL intends to adopt the Insurance in Superannuation Voluntary Code of Practice (the Code) and comply with the requirements of the Code to the extent that they are in our members’ best interests. PSL supports the Code’s intent to improve insurance in superannuation offered to fund members as well as trustees’ processes in providing insurance.
The transition plan outlining the timeframe in which PSL will comply with the Code is located here.