UniSuper
UniSuper is an Australian superannuation fund that provides superannuation services to employees of Australia's higher education and research sector. The fund has over 450,000 members and $100 billion in assets (funds under management and total member accounts at 7 July 2021). UniSuper is a not-for-profit company whose shareholders are 37 Australian universities and is governed by a corporate Trustee, UniSuper Limited. All the universities have representation on the Consultative Committee. UniSuper has been granted a MySuper authority, enabling it to continue to receive default superannuation contributions from 1 January 2014. Fund History. UniSuper was founded  in October 2000, as a result of a merger between the Superannuation Scheme for Australian Universities (SSAU) and the Tertiary Education Superannuation Scheme (TESS). Prior to the merger, UniSuper had been the trustee for the SSAU. UniSuper has pursued a strategy of buying 'fortress' stocks (defensible against disruption), as well as bringing investment functions in-house, in order to achieve significant returns over time. Fund Governance. UniSuper's day-to-day administration is managed by a wholly owned company, UniSuper Management Pty Ltd (UniSuper Management). UniSuper's Chief Executive Officer is Peter Chun. Board of Directors. UniSuper's Board of  Directors governs the operations of UniSuper to ensure the Fund is administered in accordance with the Trust Deed, and determines the strategic direction of the Fund. The Board represents, and is accountable to, the members of UniSuper and the Fund's participating employers. The directors of UniSuper as of 2017 are: Consultative Committee. The Consultative Committee reviews and approves changes to the Trust Deed and is responsible for nominating four directors to the Board of Directors. Shareholder universities each appoint up to four members to the Consultative Committee. Half the members represent the employers, the other half represents, equally, academic  staff and general staff. As at 24 March 2017, the Consultative Committee had 145 members and there were four vacant positions.