Local Government Super's (LGS) Accumulation Scheme has kept its five star rating from CANSTAR.
The scheme was one of 11 super funds to get a five-star rating, and one of three to get a five-star rating for all life stages, from starting out to nearing retirement.
The scheme got the rating for the number of investment options on offer, access to voluntary insurance to limited and comprehensive financial planning services, and easy member account access.
CANSTAR looked at the accumulation stage of 74 super funds on offer for personal super investment, and considered the annual cost of the fund and fund features such as ease of member account access, number of investment options offered, and access to voluntary insurance, financial advice and strategy services within the fund.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.