HESTA

HESTA is an Australian industry superannuation fund established in 1987, serving workers in the health and community services sectors. With over 1.1 million members and approximately $96 billion in funds under management, it is one of Australia's largest superannuation funds. The fund operates on a not-for-profit basis, aiming to provide competitive returns and low fees to its members.

The fund's investment strategy is diversified across various asset classes, including fixed income, equities, property, infrastructure, private equity, hedge funds, commodities, and cash equivalents. HESTA focuses on investments that align with the interests of its members, emphasizing sectors such as healthcare, community services, education, and public administration. The fund is open to investments at various stages, including growth, late stage, pre-IPO, buyout, turnaround, and distressed situations.

HESTA has a strong commitment to responsible investment practices, integrating environmental, social, and governance (ESG) factors into its investment decisions. The fund has been recognized for its efforts in promoting gender equality and sustainability within its investment portfolio. Under the leadership of CEO Debby Blakey, HESTA continues to advocate for better outcomes for its members and the broader community.

In 2025, HESTA underwent a significant transition to a new administration provider, GROW Inc., which led to a seven-week outage affecting member access to accounts. This disruption raised concerns about the fund's risk management and governance practices. In response, the Australian Prudential Regulation Authority (APRA) imposed additional licence conditions on HESTA, requiring independent reviews of its risk management framework and board effectiveness. HESTA has acknowledged these challenges and is committed to implementing improvements to better support its members in the future.

Despite the challenges faced during the transition, HESTA remains a prominent superannuation fund in Australia, dedicated to providing quality retirement benefits to its members in the health and community services sectors. The fund continues to focus on delivering strong financial outcomes while upholding its commitment to responsible investment and social responsibility.