Meanwhile, Holzberger said QSuper’s gradual diversification of its funds manager line-up would not result in higher management expense ratios for members.

“I’ve got very strict MER budgets set by the QSuper board, and I’ve no dispensation to break them…in the research we’ve been doing on our future strategy, we’ve been very careful to make sure we won’t be duplicating anything QIC will be doing for us, we’re dotting every ‘i’ and crossing every ‘t’ to make sure members are not disadvantaged in any way.”