VicSuper signs up to the FX Global Code

Today, VicSuper has announced that it has signed up to the FX Global Code becoming the first profit-to-member superannuation fund to sign and register its statement of commitment in Australia. Signing the Code highlights its commitment to best practice and strong governance in foreign exchange markets.

The Code provides a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed through collaboration between central banks and market participants from 16 jurisdictions around the world.

It promotes six leading principles that are universally recognised as best practice including ethics, governance, execution, information sharing, confirmation and settlement, and risk management and compliance.

VicSuper’s Chief Investment Officer Andrew Howard said that aligning to the Code is a logical step as it is consistent with VicSuper’s commitment to strong investment governance and responsible investment practices, and is in members’ best interests.

“Our fund has a number of activities in the FX Market. VicSuper has a key focus on responsible investment practices and strong investment governance, and we want to ensure that we are part of a fair, effective and resilient FX market.

“We are also pleased with the industry leadership that our currency overlay manager QIC has demonstrated. QIC’s commitment to best practice saw them become one of the first Australian investment managers to sign the FX Global Code.

“We will be asking our other investment managers about their commitment to the Code and encouraging them to sign up. By doing this, we will be assisting in the process to promote integrity and confidence in the market.

“VicSuper has gone through a 10 step process to align to the Code, having set up a working group to ensure we are compliant both now and in the future.

“We believe that adopting the Code will provide benefits to the fund, the FX Market as a whole and most importantly our members.”

VicSuper was recently recognised through their inclusion in the PRI Leaders’ Group, which recognises outstanding leadership and best practices in responsible investing worldwide. Signatories were scored in relation to governance, implementation and transparency.

Media enquiries

Alexis Harrison | Alexis.Harrison@vicsuper.com.au | +61 3 9667 9762


About VicSuper

VicSuper is a $23 billion-strong profit-to-member superannuation fund with approximately 240,000 members and over 25,000 employers. The underlying assets of the Fund have more than doubled over the past 6 years. VicSuper has received the SuperRatings Platinum Performance rating (their highest rating) seven years in a row (2013-2019) and recently won the Chant West award for Best Fund: Integrity 2019.

Open to all Australians, membership is strongest in Victoria where the Fund began over 20 years ago. The Fund’s strategic plan is designed to grow and build resilience into the Fund to help deliver long-term value for its members.

The information in this document is of a general nature only and does not take into account your objectives, financial situation or needs. You should consider the appropriateness of the information and read the relevant VicSuper Product Disclosure Statement before making a decision on whether to join VicSuper. You may wish to seek professional advice for your own circumstances before you take any action and can contact VicSuper to make an appointment to see one of our superannuation advisers. VicSuper Pty Ltd ABN 69 087 619 412 AFSL 237333 is the Trustee of VicSuper Fund ABN 85 977 964 496 

Today, VicSuper has announced that it has signed up to the FX Global Code becoming the first profit-to-member superannuation fund to sign and register its statement of commitment in Australia. Signing the Code highlights its commitment to best practice and strong governance in foreign exchange markets.

The Code provides a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed through collaboration between central banks and market participants from 16 jurisdictions around the world.

It promotes six leading principles that are universally recognised as best practice including ethics, governance, execution, information sharing, confirmation and settlement, and risk management and compliance.

VicSuper’s Chief Investment Officer Andrew Howard said that aligning to the Code is a logical step as it is consistent with VicSuper’s commitment to strong investment governance and responsible investment practices, and is in members’ best interests.

“Our fund has a number of activities in the FX Market. VicSuper has a key focus on responsible investment practices and strong investment governance, and we want to ensure that we are part of a fair, effective and resilient FX market.

“We are also pleased with the industry leadership that our currency overlay manager QIC has demonstrated. QIC’s commitment to best practice saw them become one of the first Australian investment managers to sign the FX Global Code.

“We will be asking our other investment managers about their commitment to the Code and encouraging them to sign up. By doing this, we will be assisting in the process to promote integrity and confidence in the market.

“VicSuper has gone through a 10 step process to align to the Code, having set up a working group to ensure we are compliant both now and in the future.

“We believe that adopting the Code will provide benefits to the fund, the FX Market as a whole and most importantly our members.”

VicSuper was recently recognised through their inclusion in the PRI Leaders’ Group, which recognises outstanding leadership and best practices in responsible investing worldwide. Signatories were scored in relation to governance, implementation and transparency.

Media enquiries

Alexis Harrison | Alexis.Harrison@vicsuper.com.au | +61 3 9667 9762


About VicSuper

VicSuper is a $23 billion-strong profit-to-member superannuation fund with approximately 240,000 members and over 25,000 employers. The underlying assets of the Fund have more than doubled over the past 6 years. VicSuper has received the SuperRatings Platinum Performance rating (their highest rating) seven years in a row (2013-2019) and recently won the Chant West award for Best Fund: Integrity 2019.

Open to all Australians, membership is strongest in Victoria where the Fund began over 20 years ago. The Fund’s strategic plan is designed to grow and build resilience into the Fund to help deliver long-term value for its members.

The information in this document is of a general nature only and does not take into account your objectives, financial situation or needs. You should consider the appropriateness of the information and read the relevant VicSuper Product Disclosure Statement before making a decision on whether to join VicSuper. You may wish to seek professional advice for your own circumstances before you take any action and can contact VicSuper to make an appointment to see one of our superannuation advisers. VicSuper Pty Ltd ABN 69 087 619 412 AFSL 237333 is the Trustee of VicSuper Fund ABN 85 977 964 496