legalsuper - 6th fastest growing super fund

The recently released 2007 BRW Top 500 Private Companies survey has confirmed that legalsuper’s 2006/07 revenue growth was the 6th highest out of 36 super funds in the survey.

In terms of size legalsuper ranked 155th out of all 500 private companies.

The survey showed that legalsuper’s revenue growth outpaced funds such as HESTA, REST and Host-Plus.

Factors contributing to legalsuper’s increase in revenue

The most significant contributing factor was the federal government tax incentives.  These incentives resulted in substantial member contributions being paid across the industry in the 2006/07 year.
 
Industry statistics for funds with at least $50 million of assets from the superannuation regulator (Australian Prudential Regulation Authority) indicate that across the industry, record member contributions of $22.4 billion were paid in the final quarter of 2006/07– three times more than the last quarter of 2005/06.
 
For legalsuper, almost $40M of member contributions were paid in the final quarter of 2006/07 - close to four times that paid in the prior year.

Another significant factor in 2006/07 was the $34 million NSW Barristers’ Superannuation Fund merging into legalsuper.

Fund for the legal community