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24th Heron Quality Star Ratings Released

Released: 12 February, 2018

2018 Calendar Year Assessment

Leading independent superannuation and actuarial consultancy, The Heron Partnership, has released its latest half-yearly assessment of superannuation funds for calendar year 2018.

Originally launched in 2006, the 2018 calendar year ratings are the 24th public assessment undertaken by Heron. These ratings covered 136 superannuation products, which included 55 commercial products, 48 industry funds, 11 Government designated funds, 22 specialist "corporate" products and 79 pension 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 delighted to announce that Sunsuper for life, AMP SignatureSuper and AMP SignatureSuper Allocated Pension have again achieved the highest numeric rating for their respective product category in our 2018 assessment and therefore receive the Top Rated Product awards. These 3 products also received their respective Top Rated Product award in the 2017 ratings."

Heron's Top Rated Superannuation Products for 2018

Top Rated Personal Product Sunsuper for life
Top Rated Corporate Product AMP SignatureSuper
Top Rated Pension Product AMP SignatureSuper Allocated Pension

The 95 superannuation products rated as "outstanding quality" and therefore awarded 5 Heron Quality Stars are (in alphabetical order) as follows.

Outstanding Superannuation Products

AMG Super - Corporate Super Kinetic Super
AMG Super - Personal Super legalsuper
AMP - Flexible Super LGIAsuper
AMP - Flexible Super - Employer Local Government Super
AMP CustomSuper LUCRF
AMP MyNorth Macquarie Wrap - Super Accumulator
AMP SignatureSuper Macquarie Wrap - Super and Pension Consolidator
AMP SignatureSuper Select Macquarie Wrap - Super and Pension Manager
AMP Summit - Personal Super Mentor Superannuation Master Trust
ANZ Smart Choice Super (Employer Sponsored) Mercer SmartSuper Plan - Employer Section
ANZ Smart Choice Super and Pension Mercer Super Trust - Corporate Superannuation Division
Asgard Elements Super MLC MasterKey Business Super
Asgard Employee Super MLC MasterKey Super Fundamentals
Asgard eWRAP Super MLC Navigator Retirement Plan Series 2
Asgard Infinity eWRAP Super MTAA Super
AustralianSuper Plan netwealth Super Accelerator Core - Employer Sponsored Super
AustralianSuper Personal Plan netwealth Super Accelerator Plus
AustralianSuper Public Sector Division netwealth Super Accelerator Plus - Employer Sponsored Super
AustralianSuper Select netwealth Super Wrap - Employer Sponsored Super
AustSafe Super NGS Super
BT Business Super OnePath OneAnswer Frontier Personal Super
BT Lifetime Super - Employer Plan Perpetual Select Super Plan
BT Super for Life Plum Super
BT SuperWrap Essentials Personal Super Plan Plum Super - Personal Division
BT SuperWrap Personal Super Plan Prime Super (Health Division)
CareSuper Employee Plan Prime Super (Prime Division)
CareSuper Personal Plan REI Super
Child Care Super REST Corporate
Club Plus REST Super
Club Super Russell Investments Master Trust - iQ Super - Employer
Colonial First State FirstChoice Employer Super Russell Investments Master Trust - iQ Super - General
Colonial First State FirstChoice Wholesale Personal Super Russell Investments Master Trust - iQ Super - Saver
EISS smartMonday DIRECT
Equip MyFuture smartMonday PRIME
Equip MyFuture - Corporate StatewideSuper
First State Super Strategy Retirement Fund
Freedom of Choice Employer Superannuation Service Suncorp Brighter Super for Business
Freedom of Choice Personal Superannuation Service Suncorp Brighter Super Personal Super
GuildSuper Sunsuper for life
HESTA Sunsuper for life Business
Hostplus Sunsuper for life Corporate
Hostplus Executive Tasplan
Hostplus Personal Super Plan Telstra Super - Personal Plus
Intrust Super The Executive Superannuation Fund (Employer Sponsored)
IOOF Employer Super The Executive Superannuation Fund (Personal)
IOOF Employer Super - Personal Division UniSuper Accumulation Super (1)
IOOF Pursuit Focus Personal Superannuation VicSuper FutureSaver
IOOF Pursuit Select Personal Superannuation  

MySuper Investment Option

Heron has again undertaken an assessment of each products MySuper investment option. For their MySuper rating Heron considers the type of option (LifeStages or Single Diversified), the reliability of the historical return history, the TAA range, the level and type of active/passive management, actual or indicative historical investment performance, ease of understanding and fee based on the PDS disclosure. In addition, in assessing the LifeStages options Heron considered whether the structure included cohorts, the cohort age band period and the cohort curve shape.

Based on this assessment criteria, Heron awarded 5 Stars to the following 54 products.

Outstanding MySuper Option

AMG Super - Corporate Super LGIAsuper
AMP - Flexible Super LUCRF
AMP - Flexible Super - Employer Meat Industry Employees’ Superannuation Fund
ANZ Smart Choice Super (Employer Sponsored) Media Super - Employer Sponsored Account
AustralianSuper Plan Media Super - Personal Account
AustralianSuper Personal Plan Mine Wealth + Wellbeing Super
AustralianSuper Public Sector Division MLC MasterKey Business Super
Bendigo SmartStart Super MTAA Super
BUSSQ MySuper NGS Super
CareSuper Employee Plan Prime Super (Health Division)
Catholic Super Prime Super (Prime Division)
Cbus REI Super
Club Plus REST Corporate
Colonial First State FirstChoice Employer Super REST Super
EISS Russell Investments Master Trust - iQ Super - Employer
Equip MyFuture Russell Investments Master Trust - iQ Super - General
Equip MyFuture - Corporate Russell Investments Master Trust - iQ Super - Saver
First State Super smartMonday PRIME
HESTA StatewideSuper
Hostplus Sunsuper for life
Hostplus Executive Sunsuper for life Business
Hostplus Personal Super Plan Sunsuper for life Corporate
Intrust Super Tasplan
IOOF Employer Super Telstra Super - Personal Plus
IOOF Employer Super - Personal Division UniSuper Accumulation Super (1)
Kinetic Super VicSuper FutureSaver
legalsuper WA Super

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 rating with weightings of 55% and 30% respectively.

Based on Heron's numeric rating the following products have been designated as Top Ten Products for Investment Features and as Top Ten Products for 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 & Infinity eWRAP Super AMP Flexible Super - Employer
AustralianSuper AMP CustomSuper
Hostplus AMP SignatureSuper & Select
IOOF Employer Super - Personal Division Asgard Employee Super
IOOF Pursuit Select Personal Superannuation Colonial First State FirstChoice Employer Super
Macquarie Wrap IOOF Employer Super
Mercer SmartSuper Plan - Individual Section Mercer Super Trust & SmartSuper
MLC Navigator Retirement Plan Series 2 Plum Super
OnePath OneAnswer Frontier Personal Super smartMonday PRIME
Sunsuper for life Sunsuper for life

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 and Pension AMP SignatureSuper
Asgard Elements Super ANZ Smart Choice Super (Employer Sponsored)
Asgard eWRAP & Infinity eWRAP Super Asgard Employee Super
Mentor Superannuation Master Trust BT Business Super
netwealth Super Accelerator Core - Employer Sponsored Super BT Lifetime Super - Employer Plan
netwealth Super Accelerator Plus - Employer Sponsored Super Mercer Super Trust - Corporate Superannuation Division
Perpetual MySuper MLC MasterKey Business Super
Perpetual Select Super Plan Plum Super
Telstra Super - Personal Plus Russell Investments Master Trust - iQ Super - Employer
VicSuper FutureSaver smartMonday PRIME

The Pension products rated as "outstanding quality" and therefore awarded 5 Heron Quality Stars are (in alphabetical order), as follows.

Outstanding Pension Products

AMP Flexible Lifetime Allocated Pension Plan IOOF Pursuit Select Allocated Pension
AMP Signature Super Allocated Pension legalsuper Pension
Summit Personal Pension Media Super Pension
Asgard Elements Pension MLC MasterKey Pension Fundamentals
Asgard eWRAP Pension MLC Wrap Super - Pension Service
Asgard Infinity eWRAP Pension MLC Navigator Retirement Plan Series 2 - Pension Service
AustralianSuper Choice Income MLC MasterKey Pension
BT SuperWrap Pension Plan netwealth Standard Income Stream
BUSSQ Pension NGS Super Account Based Pension
CareSuper Pension OnePath OneAnswer Frontier Pension
Colonial First State - FirstChoice Pension Prime Super Allocated & Non Commutable Superannuation Income Streams
Colonial First State - FirstChoice Wholesale Pension REST Pension
EISS Pension Russell iQ Retirement
Equipsuper Account Based Pension smartMonday PENSION
First State Super Income Stream Statewide Pension
HESTA Income Stream Suncorp Brighter Super - Pension
Hostplus Pension Plan Sunsuper for Life - Income Account
Intrust Super Super Stream Pension Unisuper Pension
IOOF Pursuit Focus Allocated Pension Vision Income Streams

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.