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Heron Quality Star Ratings - 2014 Calendar Year Assessment Released
Released: 3 February, 2014
2014 Calendar Year Assessment Released
The latest half-yearly assessment of superannuation funds for calendar year 2014 has just been released by The Heron Partnership, a leading independent superannuation and actuarial firm.
Heron covered 146 superannuation products, including 121 Personal products (comprising 62 industry funds and 59 master trusts) and 25 master trust and industry fund products specifically designed for the corporate superannuation market.
Through this assessment Heron awarded 5 Quality Stars to 87 superannuation products.
The products that achieved the highest numeric rating in each product classification receive Heron’s Top Rated Product award for that classification and are awarded 6 Stars.
The Heron Partnership’s Managing Director, Chris Butler, said, “We are very pleased to announce that AustralianSuper and MLC MasterKey Business Super achieved the highest numeric rating for their respective product category in our 2014 assessment and therefore received the Top Rated Product awards”.
Heron’s Top Rated Superannuation Products for 2014
| Top Rated Personal Product | AustralianSuper |
|---|---|
| Top Rated Corporate Product | MLC MasterKey Business Super |
Mr Butler said “Although AustralianSuper has achieved 5 Star status at every half yearly assessment since we commenced public ratings in 2006, this is the 1st occasion that AustralianSuper has been judged as a Top Rated Product. It is the 4th consecutive occasion that MLC MasterKey Business Super has been judged as the Top Rated Product within the Corporate superannuation division.”
The 87 superannuation products rated as “outstanding quality” and therefore awarded 5 Heron Quality Stars are (in alphabetical order) as follows.
Outstanding Personal Superannuation Products
| AMP CustomSuper | Intrust Super |
| AMP Flexible Super | IOOF Employer Super |
| AMP Flexible Super - Employer | IOOF Employer Super - Personal Division |
| AMP SignatureSuper | IOOF Portfolio Service Personal Superannuation |
| ANZ Smart Choice Super | Legal Super |
| ANZ Super Advantage | Local Government Superannuation Scheme Accumulation Scheme |
| Aon Master Trust - Corporate Super - Essentials | Macquarie - Super Accumulator |
| Aon Master Trust - Personal Super Essentials | Media Super - Employer Sponsored Account |
| Asgard Elements Super | Mercer SmartSuper |
| Asgard Employee Super | Mercer SuperTrust |
| Asgard eWRAP Super | MLC MasterKey Business Super |
| Asgard Infinity eWRAP Super | MLC MasterKey Super & Pension |
| AustralianSuper | MLC MasterKey Super Fundamentals |
| AustralianSuper Corporate | MLC Navigator Retirement Plan |
| AustralianSuper Finsuper Division | MLC Wrap Super - Superannuation Service |
| AustralianSuper Personal | Nationwide Superannuation Fund - NSF Super |
| AustralianSuper Public Sector Division | Nationwide Superannuation Fund - NSF Super - Personal Division |
| AustralianSuper Westscheme Division | netwealth Super Accelerator Core – Employer Sponsored Super |
| BT Business Super | netwealth Super Accelerator Plus – Employer Sponsored Super |
| BT Lifetime Super - Employer Plan | netwealth Super Wrap - Employer Sponsored Super |
| BT SuperWrap Essentials Personal Super Plan | NGS |
| BT SuperWrap Personal Super Plan | OnePath Corporate Super |
| BUSS(Q) Premium Choice | OnePath Integra Super |
| CareSuper - Corporate | OnePath OneAnswer Frontier Personal Super |
| CareSuper - Employee Plan | Perpetual Select Superannuation Plan |
| CareSuper - Personal Plan | Plum Superannuation Fund |
| Club Super | Plum Superannuation Fund - Personal Division |
| Colonial First State FirstChoice Employer Super | Pursuit Core Personal Superannuation |
| 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 Acumen |
| Equip Personal | REST Corporate |
| EquipExpress | REST Select |
| Equity Super Freedom of Choice - Business Super | REST Super |
| Equity Super Freedom of Choice - Corporate Super | Russell SuperSolution Master Trust - Employer Division |
| Equity Super Freedom of Choice - Personal Super Service | Russell SuperSolution Master Trust - General Division |
| First State Super | Russell SuperSolution Master Trust - Private Division |
| FSP Super Fund | Strategy Retirement Fund |
| Generations - Personal Super | Sunsuper Corporate |
| Government Employees Superannuation Board - GESB Super | Sunsuper for life |
| HESTA | Tasplan |
| HOSTPLUS | Telstra Super - Personal Plus |
| HOSTPLUS Executive | Unisuper Accumulation Super (1) |
| HOSTPLUS Personal Super Plan |
The assessment of personal and corporate superannuation products undertaken by Heron covers about 120 key product features that are grouped under 5 Areas of Importance of 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 Elements Super | AMP CustomSuper |
| Asgard eWRAP Super | AMP Flexible Super - Employer |
| Asgard Infinity eWRAP Super | AMP SignatureSuper |
| BT SuperWrap Personal Super Plan | Asgard Employee Super |
| IOOF Employer Super - Personal Division | AustralianSuper Corporate |
| IOOF Portfolio Service Personal Superannuation | BT Lifetime Super - Employer Plan |
| IOOF Pursuit Core Personal Superannuation | Equity Trustees Freedom of Choice - Business Super |
| Macquarie Super Accumulator | IOOF Employer Super |
| MLC Navigator Retirement Plan | Mercer SuperTrust |
| MLC Wrap Super - Superannuation Service | MLC MasterKey Business Super |
In alphabetical order the Top 10 Personal and Corporate Products in respect to Insurance Features are:
Top 10 Insurance Features
| Personal | Corporate |
|---|---|
| ANZ Smart Choice Super | ANZ Super Advantage |
| Aon Master Trust - Personal Super Essentials | Aon Master Trust Corporate Super - Essentials |
| Asgard Elements Super | BT Business Super |
| Asgard eWRAP Super | BT Lifetime Super - Employer Plan |
| Asgard Infinity eWRAP Super | IOOF Employer Super |
| HOSTPLUS | Mercer SuperTrust |
| NGS Super | MLC MasterKey Business Super |
| Perpetual MySuper | OnePath Corporate Super |
| Perpetual Select Superannuation Plan | Plum Superannuation Fund |
| Sunsuper for life | 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.