Sunsuper has taken out the Super Review/Heron Parntership Superannuation Fund of the Year Award at a gala in Melbourne overnight.
In a closely-run race with AustralianSuper, the Queensland-based fund was named the winner based on its rapid rate of growth and enhancements it had made to its product offering over the past two years.
The Heron Partnership attributed the win to Sunsuper having “delivered an excellent total package”.
Money Management’s sister publication, Super Review, named the long-time head of Insight Investments, Margaret Waller, as its first-ever female recipient of the Lifetime Achievement Award for her contribution to funds management, particularly institutional funds management, over 30 years.
Waller is regarded as the driving force and founder of the UK-based investment management partnership, Pareto Partners which became Insight Investment.
NSW-based fund, First State Super was named Best Public Sector Fund, while AIA Australia was named best insurer with universities-based fund, Unisuper being named as the best industry fund.
Australia’s largest industry fund, AustralianSuper received the award for best pension product recognising its Australian Super Choice Income offering – the second successive year it had won the laurels in the category.
In the Best Corporate Solution category, Sunsuper was named the winner for its Sunsuper for Life Corporate product, with the Best Commercial Product category being taken out by Asgard Infinity eWrap Super.
The best MySuper product was awarded to AustralianSuper.
There is a need for Australia’s superannuation funds to simplify their investment menus, according to the firm, given over a third of funds have more than 30 options, of which one or more are “arguably subscale”.
The research house is set to offer research ratings of superannuation funds for the first time amid growing demand from financial advisers.
Treasury is calling for submissions on its draft regulations in relation to the calculation of the proposed Division 296 tax.
Initially intended to offer a “simple, cost-effective” option for Aussies invested in default fund options, a super consultant has weighed in on what the scheme has actually done for members.
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