Superannuation returns bounced-back in April delivering +2.2% to post their best monthly return since June last year, according to research from Rainmaker Information.
products in an attempt to recognise quality and consistency in superannuation offerings.
In a time of unprecedented turbulence, Australians need to know they can trust their superannuation provider to navigate uncertain markets.
Of the 201 ratings that were awarded, 169 products retained their AAA rating, 32 new products received AAA status for the first time and 23 products either lost their rating or went under review.
One third of all superannuation products were rated AAA.
"The AAA rating is a sign that the fund offers a combination of solid net returns, low fees as well as good value insurance within super," said Alex Dunnin, head of research at Rainmaker Information.
"Achieving a AAA status should be something funds are proud of."
These AAA Quality assessments are centred on Rainmaker's independent superannuation research program that spans 3,200 investment choices, 2,800 fee options and 15,000 insurance policy options covering workplace, personal and retirement products.
Of the 201 products, 154 were derived from not for profit (NFP) funds whilst the remaining 47 were retail based products.
"While regulatory bodies call for a 'best-in-show' list of funds, this quality assessment indicates a best of breed list of funds consumers should look for to see if their fund is meeting its objectives and providing the best service," said Dunnin.
"The philosophy behind the Rainmaker SelectingSuper Quality Assessment Rating is the way we recognise what makes fund different, because they serve different people differently."
"The Rating is indicator that the funds deliver on what they promise."
AAA rated products are eligible to be considered in the annual Rainmaker SelectingSuper Awards.
To view the full list of quality products visit the SelectingSuper website
Superannuation funds and the products that have been awarded AAA Quality ratings for the first time in 2020 include:
| Workplace (MySuper/default) - single strategy |
| 1 |
Australian Ethical Super Employer - Balanced (accumulation) |
0.9% |
| 2 |
First Super Employer - Balanced |
0.1% |
| 3 |
WA Super - My WA Super |
-0.1% |
| 4 |
VicSuper FutureSaver - Growth (MySuper) |
-0.4% |
| 5 |
BUSS(Q) MySuper - Balanced Growth |
-0.76 |
| |
Average single strategy |
-3.1% |
| |
|
|
| Workplace (MySuper/default) - Lifecycle* |
| 1 |
QSuper Accumulation Account |
-0.2% |
| 2 |
Mercer Super Trust - Corporate Super Division |
-0.5% |
| 3 |
First State Super - Employer Sponsored |
-0.9% |
| 4 |
TASPLAN |
-2.0% |
| 5 |
Catholic Super |
-2.6% |
| |
Average Lifecycle |
-4.8% |
| |
*Lifecycle options for 40 year old members |
|
| |
|
|
| Personal (balanced) |
| 1 |
Future Super - Balanced Index |
2.1% |
| 2 |
UniSuper Personal Accounts - Sustainable Balanced |
1.5% |
| 3 |
Suncorp Brighter Super personal - Suncorp Multi-Manager Growth Fund |
1.3% |
| 4 |
Australian Catholic Super Personal - Socially Responsible |
1.2% |
| 5 |
Australian Ethical Retail Superannuation Fund Personal - Balanced (accumulation) |
0.9% |
| |
Average |
-3.7% |
| |
|
|
| Retirement (Balanced) |
| 1 |
AMP Flexible Super Retirement - Responsible Investment Leaders Balanced |
5.6% |
| 2 |
Australian Ethical Retail Superannuation Fund Pension - Balanced (pension) |
2.1% |
| 3 |
Australian Catholic Super RetireChoice - Socially Responsible |
1.9% |
| 4 |
UniSuper Pension - Sustainable Balanced |
1.9% |
| 5 |
Suncorp Brighter Super pension - Suncorp Multi-Manager Growth Fund |
1.1% |
| |
Average |
|
