POWERED BY MOMENTUM MEDIA
Sunsuper product wins best corporate solution
Significant corporate success over the past 12 months and competitive pricing has contributed to the Sunsuper for life Corporate product taking the prize for best corporate solution at the Super Fund of the Year Awards.
The Heron Partnership judging panel also pointed to the solution’s solid investment performance and the broad range of investment assets it captured, which included listed, unlisted, passive and active options, as reasons for its win.
The facts that the solution offered a retirement bonus when activating a pension account and was an industry fund operating with subplans, choice of insurer and full policy committee further impressed the judges.
Sunsuper general manager, corporate and institutional, Dave Woodall, said having this range of strong options was vital to the solution’s success.
“I think [winning the award] is a recognition of how you need to perform strongly in all aspects of your value proposition because the process large employers go through in selecting a default fund is a detailed process, with a lot of due diligence, so you need to be consistent in all facets of your solution,” he said.
The solution’s focus on its members was another reason for its victory, with the extensive member research undertaken and personalised member experience offered through enhanced digital channels impressing the judges.
“We focus on how we can deliver services to members that are highly specific and unique to their personal circumstances, and we do this through the effective use of technology,” Woodall said.
Finally, the judges were drawn to the solution’s planned initiatives for the next 18 months, which they found were “extensive”.
The judges looked at the finalists’ depth of features, consistency of long-term investment performance, and their competitiveness of group life insurance premiums and administration and investment costs.
The judges said that Sunsuper’s solution achieved “very good scoring across the whole product”.
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
