HESTA, formed in 1987 by the health and community services industry, is the Australian industry superannuation fund for health and community services workers. The fund has grown to become the largest super fund dedicated to this industry. Today, it serves more than 850,000 members and more than 155,000 employers, with assets of A$46 billion ($33 billion).
HESTA has a history of strong, long-term returns. It keeps fees low, and it doesn’t pay commissions to financial advisers. It is also committed to providing outstanding member benefits, and helping its members take control of their future with quality education and advice about super.
HESTA’s board of 14 trustee directors is made up of representatives from the industry’s employer and employee organisations. HESTA was the first major superannuation fund in Australia to introduce a sustainable investment option (HESTA Eco Pool), and to assess fund managers on their after-tax investment returns.