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SelectingSuper Media Release - 12 June 2013
SelectingSuper withdraws AAA Quality Assessment for StatewideSuper
SelectingSuper has withdrawn its quality assessment for StatewideSuper. The fund was previously assessed as AAA.
SelectingSuper is part of the Rainmaker financial services information group.
Research director, Alex Dunnin, said the withdrawal of the quality assessment is due to StatewideSuper no longer disclosing information to the Rainmaker group and in those circumstances the information group is unable to support its quality assessment grading for the fund.
The $4 billion Adelaide-based super fund's default investment option is currently returning -0.5% pa over five years to end April 2013, according to SelectingSuper's most recent fund performance survey.
Dunnin said Rainmaker would continue to include Statewide in its ongoing superannuation market wide research survey program where that information is publicly available....
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