Despite being a growing reservoir of funds under management, this critically important pool of capital is confronting mounting problems collating and disseminating key data in a timely manner.
The ratings house is pinning its growth strategy on a revamped methodology that increases the emphasis on governance to 25 per cent – a timely move considering APRA’s proposed reforms.
Smaller funds make it as SuperRatings finalists
Kirby Rappell
SunSuper, Catholic Super, QSuper and Telstra Super are the only funds to make it to the finalists’ lists of each of the three major categories in the SuperRatings awards this year. The awards and preceding ‘Day of Confrontation’ have moved from the Ivy to the Four Seasons Hotel in Sydney to accommodate an expected record 400 attendees.
Another feature of the finalists is that the main categories have not been quite so dominated by the very large funds this year. According to Kirby Rappell, SuperRatings head of research: “It’s nice to see a couple of small funds coming up the charts, suggesting it’s not time to switch the lights off just yet, as well as some larger funds making good strides.”
Smaller funds as finalists include Intrust, for MySuper of the Year, and Club Plus Super, for Pension of the Year.
The awards have been slightly expanded this year by splitting the accumulation-phase category into two: MySuper of the Year and Choice Super of the Year.
In other categories, One Vue scored a finalist spot for the Rising Star Award and also with its client brightday Complete Super, owned by News Corp’s Eureka Report, as a Best New Product finalist.
Adam Gee, SuperRatings chief executive, said: “Despite the strong focus by many providers on enhancing the quality of retirement outcomes for members, the variance in products quality remains as great as ever…. The awards recognise the highest quality superannuation products in the market and, as with every year, remain hotly contested.”
The finalists in the six categories are:
