AMP and Sunsuper top Heron ratings

13 February 2018

| By Mike |

AMP and Sunsuper have emerged as the top-rated superannuation funds in the 2018 Heron Quality Star Ratings.

The Melbourne-based independent superannuation and actuarial consultancy named Sunsuper for Life as the Top Rated Personal Product, while AMP SignatureSuper was named the Top Rated Corporate Product and AMP SignatureSuper Allocated Pension was the Top Rated Pension Product.

The assessment of personal and corporate superannuation products undertaken by Heron covers about 120 key product features that are grouped under five areas of importance of Investment Arrangements, Insurance, Contributions, Ancillary Benefits, and Communications.

Investments and Insurance have the greatest impact on a product’s rating with weightings of 55 per cent and 30 per cent respectively.

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Commenting on the ratings outcome, Heron Partnership’s Managing Director, Chris Butler noted that the three superannuation products which had been top-rated this year had also been top-rated in 2017.

The 95 superannuation products rated as “outstanding quality” and therefore awarded five Heron Quality Stars are (in alphabetical order) as follows:

Outstanding Superannuation Products
AMG Super - Corporate Super	Kinetic Super
AMG Super - Personal Super	legalsuper
AMP - Flexible Super	LGIAsuper
AMP - Flexible Super - Employer	Local Government Super
AMP CustomSuper	LUCRF
AMP MyNorth	Macquarie Wrap - Super Accumulator
AMP SignatureSuper	Macquarie Wrap - Super and Pension Consolidator
AMP SignatureSuper Select	Macquarie Wrap - Super and Pension Manager
AMP Summit - Personal Super	Mentor Superannuation Master Trust
ANZ Smart Choice Super (Employer Sponsored)	Mercer SmartSuper Plan - Employer Section
ANZ Smart Choice Super and Pension	Mercer Super Trust - Corporate Superannuation Division
Asgard Elements Super	MLC MasterKey Business Super
Asgard Employee Super	MLC MasterKey Super Fundamentals
Asgard eWRAP Super	MLC Navigator Retirement Plan Series 2
Asgard Infinity eWRAP Super	MTAA Super
AustralianSuper Plan	netwealth Super Accelerator Core – Employer Sponsored Super
AustralianSuper Personal Plan	netwealth Super Accelerator Plus
AustralianSuper Public Sector Division	netwealth Super Accelerator Plus – Employer Sponsored Super
AustralianSuper Select	netwealth Super Wrap - Employer Sponsored Super
AustSafe Super	NGS Super
BT Business Super	OnePath OneAnswer Frontier Personal Super
BT Lifetime Super - Employer Plan	Perpetual Select Super Plan
BT Super for Life	Plum Super
BT SuperWrap Essentials Personal Super Plan	Plum Super - Personal Division
BT SuperWrap Personal Super Plan	Prime Super (Health Division)
CareSuper Employee Plan	Prime Super (Prime Division)
CareSuper Personal Plan	REI Super
Child Care Super	REST Corporate
Club Plus	REST Super
Club Super	Russell Investments Master Trust - iQ Super - Employer
Colonial First State FirstChoice Employer Super	Russell Investments Master Trust - iQ Super - General
Colonial First State FirstChoice Wholesale Personal Super	Russell Investments Master Trust - iQ Super - Saver
EISS	smartMonday DIRECT
Equip MyFuture	smartMonday PRIME
Equip MyFuture - Corporate	StatewideSuper
First State Super	Strategy Retirement Fund
Freedom of Choice Employer Superannuation Service	Suncorp Brighter Super for Business
Freedom of Choice Personal Superannuation Service	Suncorp Brighter Super Personal Super
GuildSuper	Sunsuper for life
HESTA	Sunsuper for life Business
Hostplus	Sunsuper for life Corporate
Hostplus Executive	Tasplan
Hostplus Personal Super Plan	Telstra Super - Personal Plus
Intrust Super	The Executive Superannuation Fund (Employer Sponsored)
IOOF Employer Super	The Executive Superannuation Fund (Personal)
IOOF Employer Super - Personal Division	UniSuper Accumulation Super (1)
IOOF Pursuit Focus Personal Superannuation	VicSuper FutureSaver
IOOF Pursuit Select Personal Superannuation

MySuper Investment Option

Heron has also again undertaken a detailed review of each product’s MySuper investment option. For their MySuper rating Heron considers the type of option (LifeStages or Single Diversified), the reliability of the historical return history, the potential member confusion, the TAA range, the level and type of active/passive management, actual or indicative historical investment performance, and ease of understanding and fees based on the PDS disclosure. In addition, in assessing the LifeStages options Heron considered whether the structure included cohorts, the cohort age band period and the cohort curve shape.

Based on this assessment criteria, Heron awarded 5 Stars to the following 54 products:

Outstanding MySuper Options
AMG Super - Corporate Super	LGIAsuper
AMP - Flexible Super	LUCRF
AMP - Flexible Super - Employer	Meat Industry Employees’ Superannuation Fund
ANZ Smart Choice Super (Employer Sponsored)	Media Super - Employer Sponsored Account
AustralianSuper Plan	Media Super - Personal Account
AustralianSuper Personal Plan	Mine Wealth + Wellbeing Super
AustralianSuper Public Sector Division	MLC MasterKey Business Super
Bendigo SmartStart Super	MTAA Super
BUSSQ MySuper	NGS Super
CareSuper Employee Plan	Prime Super (Health Division)
Catholic Super	Prime Super (Prime Division)
Cbus	REI Super
Club Plus	REST Corporate
Colonial First State FirstChoice Employer Super	REST Super
EISS	Russell Investments Master Trust - iQ Super - Employer
Equip MyFuture	Russell Investments Master Trust - iQ Super - General
Equip MyFuture - Corporate	Russell Investments Master Trust - iQ Super - Saver
First State Super	smartMonday PRIME
HESTA	StatewideSuper
Hostplus	Sunsuper for life
Hostplus Executive	Sunsuper for life Business
Hostplus Personal Super Plan	Sunsuper for life Corporate
Intrust Super	Tasplan
IOOF Employer Super	Telstra Super - Personal Plus
IOOF Employer Super - Personal Division	UniSuper Accumulation Super (1)
Kinetic Super	VicSuper FutureSaver
legalsuper	WA Super