HESTA doubles assets over three years

HESTA, the industry superannuation fund for health and community services, has reached $7 billion in assets under management.

The Fund's assets have now doubled in the three years to June 2005, consolidating HESTA's position as the largest fund for the health and community services sector in Australia. The growth in assets has been boosted by millions of dollars in voluntary contributions from members wishing to benefit from the co-contributions scheme, membership growth, transfers from other funds and the strong performance of HESTA's Core Pool, ranked by SuperRatings in the top five funds for growth options for the three years to 30 April 2005. HESTA represents 500,000 members and 33,000 employers.