Global investment markets and economies were volatile through 2021/22. Almost all Australian super funds ended the year with negative returns. In this challenging landscape, legalsuper was the fifth highest performing super fund in 2021/22.1 This strong performance was due to both our conviction in active management and downside protection measures built into the portfolio. Further information is in the Investment Update later in this Communique.
Our member service team had 30% more contacts with members during 2021/22 compared to the prior financial year (2020/21). During the year, phone calls increased to an even higher level of 72%. This increased contact answered questions and addressed uncertainties about the impact of COVID19 on members’ retirement savings.
The mental health of people working in the legal community was further challenged by COVID19. We have continued to support Mental Health First Aid Training across the legal community. This training teaches people the skills to be confident and prepared when someone needs help.
1) For the MySuper balanced investment option, where most members are invested