UniSuper

Yeah.

However, I discovered that a lot of superannuation platforms, for example, Unisuper, they will help you find any missing old superannuation because obviously they will help you then consolidate it, which needs to be done very, very carefully.

But it's not hard to actually find missing lost superannuation.

Okay.

Have you seen a commercial...

For Uni Super?

We've got a text from Doris that says, Simon, please tell Patty that her two grandsons do a great job on the Heinz baked beans commercial.

They do? Yes.

Oh, thank you, Doris.

I think they're pretty fabulous too.

And then Monty, who is 10 now, but when he was eight, he did this Uni Super commercial, which is still showing.

And they gave him two lines and he had to ad-lib the rest.

Yeah,

and this gets back to, you know, when we talk about retirement and superannuation, you know, that's one of the questions, because I have a large grant, a linkage Australian Research Council grant with UniSuper as a partner and some fabulous colleagues at other universities that were all working on this.

And, you know, one of the things that we say is that people really need to be across things like their superannuation and things like that and know what their options are.

You know, there's things that your superannuation fund can help advise if you need to, you know, draw out money for aged care or You need to reconfigure your thing, your situation, your financial situation.

So, you know, I think that it's really important that people understand what it is they're investing in.

Well, you're chiming to some degree with John Pearce, who's the Chief Investment Officer at UniSuper, who was on the show recently.

And I was interested to hear he said something broadly similar, you know, that he was comfortable actually with the markets very broadly.

He was comfortable with the prices, particularly the P.E. ratios that were in place, particularly in the U.S., because the earnings are so strong.

I mean, if you're in a situation where you have no interest in building wealth, which you do because you listen to the podcast, but if you had no interest, you felt like you didn't have enough confidence and experience to construct the portfolio yourself, then maybe there could be other things that I don't know about you haven't included in your question that might justify getting financial advice.

But I think you're probably better off Leave your super within the industry fund like QSuper, Unisuper, Vanguard, Super.

I've prepared the super report back in July.

So have a look at that.

And then it turned out they actually weren't ready to buy at that price.

I think there was, there was a quote that went around from the CIO at UniSuper who said, "Firmus is a really interesting business, but not at that price." And I think that's just the, um, universal thing.

It wasn't-

Yeah

Um, I think it would be easy and too simple to say that that was the case, that it was simply, you know, Australians not believing or, or being too scared, or our capital market not being big enough to be able to cope with this.

Because what happened in the end was you had, on the Australian side, a couple of big super funds here, and UniSuper was the biggest, basically come out and say, "We're not putting any money into this.

We'll just wait and see how it goes after the float." And as it turned out, even, I mean, US hedge funds were also backing off, right? So it's not just an Australian story about Australian investors not being, uh, fully committed here.

The American investors were backing off, and even one of the original investors, a company called Coatue, which was expected to put in one and a half billion US dollars into this float, ended up tipping in 100 million, a fraction of what was...

But there was a quote in the ABC that I remember.

It was the chief investment officer at Unisuper.

So Unisuper manages many, many billions of dollars of funds.

And he basically said, it's like, Firmus is a really interesting business, not at that

price.