Rainmaker Information has announced the winners of its annual SelectingSuper Awards, a roundup of the best superannuation providers and industry leaders in Australia.
The awards recognise Australia’s Best in Show super funds that have proved to consistently add the most value to their members through sustained investment performance, best value fees and insurance, product innovation and investment leadership. The award categories span all major superannuation market segments and types of funds.
The 2018 SelectingSuper Fund of the Year was awarded to Hostplus. Hostplus has regularly been a top achiever in SelectingSuper’s monthly performance tables across both the MySuper and personal product categories, generating exceptional returns for their 1 million plus members. Hostplus was last named fund of the year in 2014.
AvSuper was awarded the prestigious Members’ Choice Award for the second year running, which is awarded to the fund that is best able to engage their members through a voting process. This award signifies their ability to engage a community around superannuation.
2018 SelectingSuper Award winners include:
Fund of the Year
Best in Show – MySuper Product
Best in Show – MySuper LifeStage Product
Sunsuper for life Business
Best Personal Choice Product
AustralianSuper Personal Plan
Best Retirement Product
Best Performance – Australian Equities
Best Performance – International Equities
Vision Super Saver
Best Performance – Fixed Interest
Best Performance – Property
Best Asset Consultant
JANA Investment Advisers
Best Value Insurance in Super
IAG & NRMA Superannuation Plan & MLC Limited
Best Millennial Super Product
Best MySuper Performance – Risk Weighted
Best Long Term Performance
Investment Leadership Award
Members’ Choice Award
Industry Service Award
Rainmaker SelectingSuper Award winners are chosen based on quantitative and qualitative research using Rainmaker Information’s extensive database of research, long-term profiling of the superannuation industry and an eye toward current trends in the super industry.
“Super funds continue to surprise on the upside, achieving average returns of more than 9% in 2017-18. At the same time these funds are working hard to lower fees and insurance premium costs while innovating with more responsive products, which highlights how well superannuation funds in Australia are doing their job,” said Alex Dunnin, director of research at Rainmaker Information.
“Australia’s best super funds routinely earn more than double what the worst performers deliver so members should check at least once a year whether their fund is still the right one for them. Choose wisely and members can be confident they will retire comfortably, but choose poorly and they could be missing out on tens or hundreds of thousands of dollars in potential retirement savings.”
“Not all funds are the same. It’s also no surprise the top funds in Australia have an enviable track record in adopting new technology, lowering fees, and proactively working with their members’ industries and communities,” Dunnin added.