Only last week i was reading that the best super fund this year was Host Plus

Whom to believe

Reply to article

For original story, Click Here.

Not sure about Aware, they are the parent of Vic Super which since the merge has gone backwards. The new Vic Super app is diabolical with many components not working and multiple significant changes including: fund investment types, payment amounts and payment cycles implemented without advice. Even the complaint did not work, they have sent me the email requesting feedback on the response and: a) no response received yet and b) the feedback survey function does not work. How do I change pension funds?

Reply to article

For original story, Click Here.

Hi Jean,

Thank you for your comment.

Rainmaker, publisher of Money magazine, has been operating since 1992. It is widely regarded as one of the leading financial services wealth management sector and superannuation researchers in Australia. Rainmaker pioneered the way superannuation is measured and benchmarked in Australia having developed the methodologies for how super fund performance is compared and displayed, the fee comparison Total Expense Ratio methodology, how group insurance can be measured and compared, methodologies for assessing ESG bona fides and methods to review super fund risk-adjusted performance credentials. All these methodologies are used by Rainmaker to assess super funds and their products each year in the annual Best of the Best award series.

Rainmaker awarded Fund of the Year to Aware Super because it won or was a leading finalist in the most categories. These categories spanned flagship categories and some minor ones. In the 2023 Money Best of the Best awards, Hostplus also won some awards. Indeed, Hostplus was a shortlisted finalist for fund of the year as well. However, because Aware Super's achievements across these award metrics was broader, more comprehensive and spanned more dimensions of superannuation high-achievement, the Rainmaker research team named Aware Super fund of the year.

To determine Money magazine's Best of the Best Fund of the Year, Rainmaker follows a holistic research approach purpose-built and designed to identify and recognise a fund or superannuation product that has done exceptionally well not only in the form of investment returns but as an overall offering to its members. These parameters span from investment performance (both short and long term) across default, diversified, single sector and multimanager investment options, fees and costs, insurance and other benefits and features. In doing so there were 33 award categories and Aware Super came out as the top fund across five of the core categories and finalist in others. Reflecting earlier comments in this response, it goes without saying that Hostplus is an impressively strong investment performer and demonstrating this they also won several Best of the Best awards, eg, best single strategy MySuper being one of them, and shortlisted in some major categories too. But Aware Super won the lifecycle MySuper award as well as other sector performance awards, fees and best value awards, and special purpose awards, eg, for younger members.

Aware Super also won some prestigious categories that Rainmaker chose not to publish this year so as to avoid repetition, eg, the award for ultra-long term performance.

Rainmaker is a strong supporter of both super funds. But Aware Super is the clear winner of the 2023 fund of the year award.

To produce these awards Rainmaker set criteria, methodologies, and research scope as these aspects vary depending on the category and dimension being assessed. To know more about how we choose our winners, please visit this page: https://www.moneymag.com.au/best-of-the-best-2023-how-we-chose-winners.

- Alex Dunnin

Director of Research

Rainmaker

Reply to article

For original story, Click Here.