Speaking at the AFR Super & Wealth Summit in Sydney, the firm said the super product was still going ahead. It had first been announced three years ago, a board of directors was appointed in April 2021 and the product was expected to launch last year. This was later delayed until this year.
Daniel Shrimski, managing director of Vanguard Australia, said the firm had previously stated it would launch in 2022 and that this was still on track.
“We are going to be low cost and be very competitive. It is an offering that will differentiate itself on more than fees and it will launch in 2022.
“We haven’t launched yet but we are very close. Innovation has been lacking [in super] and we need more of it.”
Vanguard Super was licensed as a public offer registrable superannuation entity licensee by the Australian Prudential Regulation Authority (APRA), under the Superannuation Industry (Supervision) Act in August 2022.
The wider Vanguard group has $11.3 trillion in assets under management globally.
