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Heron Quality Star Ratings for 2012 Released
Released: 9 February, 2012
All major super products included in assessment
The Heron Partnership, leading independent superannuation and actuarial consultants, has announced the results of its latest half-yearly superannuation product assessment. This assessment covered 159 superannuation products, which included 122 personal products (comprising 61 master trusts & 61 industry funds) and 37 master trust and industry fund products specifically designed for the corporate superannuation market.
The next annual assessment of Eligible Rollover Funds and pension products will be released in April and July, respectively. The outcome of this assessment is the awarding by Heron of their highest general award of 5 Quality Stars to 60 personal products and 28 corporate products.
Those that achieved the highest numeric rating in each product classification receive Heron's Top Rated Product award for that classification.
The Heron Partnership's Managing Director, Chris Butler, said, "We are very pleased to announce that Sunsuper Solutions and Asgard Employee Super have achieved the highest numeric rating for their respective product category in our 2012 assessment and as a consequence received the Top Rated Product award".
Heron's Top Rated Superannuation Products for 2012
| Top Rated Personal Product | Sunsuper Solutions |
|---|---|
| Top Rated Corporate Product | Asgard Employee Super |
Mr Butler said "This is the 1st occasion that Sunsuper Solutions has been judged as the Top Rated Personal Product and also the 1st occasion that Asgard Employee Super has achieved this award."
The 60 Personal superannuation products rated as "outstanding quality" and therefore awarded 5 Heron Quality Stars are (in alphabetical order) as follows.
Outstanding Personal Superannuation Products
| AGEST | HOSTPLUS Executive |
| AMP - Flexible Super | HOSTPLUS Personal Super Plan |
| Aon Master Trust - Personal Division | IOOF Portfolio Service Personal Superannuation |
| Aon Master Trust - Personal Super Essentials | Legal Super |
| Asgard Elements Super | Local Government Superannuation Scheme Accumulation Scheme |
| Asgard eWRAP Super | Macquarie - Super Accumulator |
| Asgard Infinity eWRAP | Media Super - Employer Sponsored Account |
| Asset Super | Media Super - Personal Account |
| AustralianSuper Finsuper Division | MLC MasterKey Super & Pension |
| AustralianSuper Personal | MLC MasterKey Super Fundamentals |
| AustralianSuper Workplace | MLC Navigator Retirement Plan |
| AXA Summit - Personal Super | MLC Wrap Super - Superannuation Service |
| BT SuperWrap Personal Super Plan | netwealth Super Wrap - Employer Sponsored Super |
| BUSS(Q) Flexible Choice Employer Sponsored | netwealth Super Wrap - Personal Super |
| BUSS(Q) Premium Choice | NGS |
| CareSuper Workplace | OnePath OneAnswer Frontier Personal Super |
| CareSuper Personal | OnePath OneAnswer Personal Super |
| Catholic Superannuation Fund | Plum Superannuation Fund - Personal Division |
| Colonial First State FirstChoice Personal Super | Pursuit Select Personal Superannuation |
| Colonial First State FirstChoice Wholesale Personal Super | REI Super Elite |
| Energy Industries Superannuation Scheme - Accumulation Scheme | REST Industry Super |
| Equipsuper - Personal | REST Industry Super Personal |
| Equity Super Freedom of Choice - Personal Super | Spectrum Super - Personal Division |
| First State Super | Strategy Retirement Fund |
| FSP Super Fund | Sunsuper Solutions |
| FuturePlus Super | Tasplan |
| Government Employees Superannuation Board - GESB Super | Telstra Super - Personal Plus |
| Health Super | Unisuper Accumulation Super (1) |
| HESTA | WA Local Government Super Solutions – Employer |
| HOSTPLUS | WA Local Government Super Solutions – Personal |
The 28 Corporate superannuation products rated as "outstanding quality" and awarded 5 Heron Quality Stars are (in alphabetical order), as follows.
Outstanding Corporate Superannuation Products
| AMP - Flexible Super - Employer | Equity Super Freedom of Choice - Corporate Super |
| AMP CustomSuper | IOOF Portfolio Service Corporate Superannuation |
| AMP SignatureSuper | IOOF Portfolio Service Employer Superannuation |
| ANZ Super Advantage | Mercer SmartSuper |
| Aon Master Trust - Standard Solution | Mercer SuperTrust |
| Asgard Employee Super | MLC Employer Super |
| AustralianSuper Corporate | MLC MasterKey Business Super |
| AustralianSuper Corporate Solutions | OnePath Corporate Super |
| BT Business Super | OnePath Integra Super |
| BT Lifetime Super - Employer Plan | Plum Superannuation Fund |
| CareSuper Corporate | REST Acumen |
| Colonial First State FirstChoice Employer Super | Russell SuperSolution Master Trust - Employer Division |
| Equipsuper - Corporate | Spectrum Super |
| Equity Super Freedom of Choice - Business Super | Sunsuper Corporate |
The assessment of personal and corporate superannuation products undertaken by Heron covers about 130 key product features that are grouped under 5 Areas of Importance: Investment Arrangements; Insurance; Contributions; Ancillary Benefits; and Communications. Investments and Insurance have the greatest impact on a product's score with respective weightings of 55% and 30%.
In respect to the two most important aspects assessed, Heron has classified the following products as a Top Ten Product for Investment Features and Insurance Features.
In alphabetical order the Top 10 Personal and Corporate Products in respect to Investment Features are:
Top 10 Investment Features
| Personal | Corporate |
|---|---|
| Asgard eWRAP Super | AMP CustomSuper |
| Asgard Infinity eWRAP | AMP SignatureSuper |
| CareSuper Workplace | Asgard Employee Super |
| CareSuper Personal | CareSuper Corporate Super |
| Mercer Super Trust - Personal Super | Colonial First State FirstChoice Employer Super |
| MLC Navigator Retirement Plan | Equity Trustees Freedom of Choice - Business Super |
| MLC Wrap Super | Mercer SmartSuper |
| REST Industry Super | Mercer SuperTrust |
| REST Personal Superannuation | MLC MasterKey Business Super |
| The Catholic Superannuation Fund | REST Acumen |
In alphabetical order the Top 10 Personal and Corporate Products in respect to Insurance Features are:
Top 10 Insurance Features
| Personal | Corporate |
|---|---|
| AMP Flexible Super | Asgard Employee Super |
| Asgard Elements Super | BT Business Super |
| Asgard eWRAP Super | BT Lifetime Super - Employer Plan |
| Asgard Infinity eWRAP | IOOF Spectrum Super |
| AustralianSuper Workplace | Mercer SuperTrust |
| Colonial First State FirstChoice Wholesale Personal Super | MLC Employer Super |
| OnePath OneAnswer Frontier Personal Super and Pension | MLC MasterKey Business Super |
| Perpetual Select Superannuation Plan | OnePath Corporate Super |
| Smartsave Member's Choice Superannuation Master Plan | OnePath Integra Super |
| Sunsuper Solutions | Sunsuper Corporate |
The Heron Quality Star Ratings have 5 levels as follows:
| Rating | Definition |
|---|---|
| 5 Stars | Outstanding |
| 4 Stars | Commendable |
| 3 Stars | Good |
| 2 Stars | Poor |
| 1 Star | Unacceptable |
Details of the Heron Quality Star Ratings, including the assessment methodology and products awarded with 5 Heron Quality Stars, are featured on The Heron Partnership's web site and their Heron Advisor product research and comparison service.