AustralianSuper wins Rainmaker Fund of the Year award

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AustralianSuper has won Fund of the Year for the third time at the annual Rainmaker SelectingSuper Awards.

Australia’s largest super fund also won the Awards for Best in Show – MySuper product, and Best in Show – Personal product, tallying the most awards of any fund.

For 14 years running, the Rainmaker SelectingSuper Awards have recognised the best superannuation and retirement product providers, as well as the best performers across asset classes such as Australian and international equities, property, ESG, cash and fixed income.

Around one in 10 Australians are AustralianSuper members.

“AustralianSuper is one of Australia’s most consistent investment performers with their flagship MySuper option ranking in the top 10 in three of the past five years. And when it wasn’t top 10 it only just missed out. Their other investments average in the best 10 per cent of all funds,” said Rainmaker Information’s executive director of research and compliance, Alex Dunnin.

Mr Dunnin also lauded AustralianSuper’s transparency and flexibility.

“They were one of the first super funds in Australia to fully disclose everything they invest in and were the first to launch annual general meetings between members and the fund’s key decision makers. They were one of the first super funds to make insurance voluntary for young members below the age of 25. AustralianSuper’s impact is not because of their size, but because of what they do with it.”

selecting super awards

AMG Super, Equipsuper, HESTA, Hostplus and Sunsuper all won two awards each. TAL Australia won the inaugural Outstanding Mental Health and Wellbeing Initiative award, and AvSuper was awarded the prestigious MemberSelect for the third time.

Over 80 per cent of the finalists recognised at the Rainmaker SelectingSuper Awards represented the not-for-profit sector.

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Written by Leon Della Bosca

Leon Della Bosca is a voracious reader who loves words. You'll often find him spending time in galleries, writing, designing, painting, drawing, or photographing and documenting street art. He has a publishing and graphic design background and loves movies and music, but then, who doesn’t?

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11 Comments

Total Comments: 11
  1. 0
    0

    I certainly wouldn’t be happy with the performance of Australian Super.

  2. 0
    0

    I wonder what the pool of Super funds they check. My fund is currently earning me over 8% and that is in the MySuper aged range as well. I never see my fund come up in any of the lists anywhere. But you have to have been a employee of the company at some stage or be a spouse/family member to join. I joined through my ex. So I don’t reckon those type of employee super funds are included in their lists. I recently talked with a guy that worked on the docks- famous company whose name escapes me, and he is earning like a HUGE amount of $$ through that super fund. So No these lists are not really acurate.

  3. 0
    0

    Try getting over the phone service or recalls for messages left. My partner is with this fund and days it’s nothing but frustration. Her work colleagues have had similar or worse dealings. Enquiries have been dealt with contempt, rudeness and arrogance. When she has any questions, she’d rather not bother them.

  4. 0
    0

    For me Australian Super was a con. Their extra administration fee, no communication and couldn’t care less attitude. If it hadn’t been my employer’s compulsory fund I would have changed to another. Was only too happy when I retired to withdraw all my money from them and put it in my banks term deposits. At least I know now my money won’t be eaten away to nothing again.

    • 0
      0

      Sorry to hear that Moo. My experiences with AustralianSuper are totally the opposite. Their fees are among the lowest, I have had good phone support and they persisted until the problem was resolved. I am impressed with their returns – each of the last 3 years over 10% on Balanced. You’d be hard pressed getting 2% on term deposits.

  5. 0
    0

    I am with Australian Super set up by the unions, they have set me up for life and I can tell C.Link and Morrison to go jump.


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