POWERED BY MOMENTUM MEDIA
Tech initiatives see iQ Super rewarded
The extent and quality of technological assistance offered by Russell Investments’ iQ Super product has helped it win Best Commercial Personal Product at the Super Fund of the Year Awards in Melbourne last night.
The Heron Partnership judging panel praised iQ Super’s updated website, high touch service, and voice contracts that enable account consolidation over the phone, thereby removing the need for paperwork.
The judges also noted new initiatives from the product, including a retirement tracker, personalised to-do list, and an “innovative” Retire Ready program. Russell Investments has signalled that there are more initiatives planned to further improve member engagement too.
Head of strategic partnerships at Russell, Nicki Ashton, said that technology was a core part of helping engage members.
“We’ve spent so much time, money and effort working out what our members want … and technology and knowledge is a key part of that. It’s helped us [share information on] our insurance offering and simplify information on retirement and superannuation,” she told Super Review at the awards night.
The firm’s insurance manager, Justin Vo, said that the product helped make sure information was “in members’ language”.
“It’s amazing to be recognised. Our team has put in a phenomenal effort over the last decade at working out what members need and using technology to deliver … what they want from retirement,” Ashton said.
When judging, Heron focused on depth of features, which then impacted flexibility and appeal, long-term investment performance, and competitiveness of premiums and costs.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
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
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
