Retail superannuation funds, including those offered by AMP have shared the laurels with industry and corporate funds in the latest Heron Partnership Quality Star Ratings released this week.
The ratings covered 190 major superannuation products, which included 39 commercial products, 45 industry funds, eight Government-designated funds, 21 specialist corporate products and 77 pension funds.
Of the 113 superannuation products assessed, 82 were judged as outstanding quality and awarded 5 Heron Quality Stars.
Commenting on the assessment, Heron Partnership managing director, Chris Butler said the primary goal of the rating process was to provide a realistic and objective representation of the product strengths and weaknesses.
The Heron ratings also covered MySuper products which saw 22 funds awarded five star status, with industry superannuation funds dominating.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
The corporate fund has announced it is seeking a suitable merger partner as the number of corporate super funds in Australia continues to dwindle.
Add new comment