Important
All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. This article refers to financial products, and you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.
You can find many articles on SuperGuide about the top performing or cheapest super funds (see the list at the end of this article). While these factors are very important when you are comparing super funds, they aren’t the be-all and end-all.
The major super research houses (Chant West, Rainmaker and SuperRatings) have long recognised this, and sought to draw attention to the super and pension funds that deliver on performance and fees, but also go further in some of the other services they deliver.
This may be due to the education services the super fund provides, or some new or innovative investment options. It could be cost-effective insurance or simply top-notch customer support. What’s certain is it won’t be one thing, but a combination of many factors that make one super fund stand out from the pack.
Despite the bad press that super funds sometimes get, ultimately they are legally obliged to act in the best interests of their members, and the best super funds use that principle to continually improve their service.
In this article we report the Funds of the Year as chosen by Chant West, Rainmaker and SuperRatings going back to 2013. For the latest year we’ll also list all the winners from other categories.
Funds of the Year – 2019/2020
This year Sunsuper are the big winners, winning 2 of the 3 main awards.
| Chant West (2020) | Sunsuper |
| Rainmaker / SelectingSuper (2019) | AustralianSuper |
| SuperRatings (2020) | Sunsuper |
Chant West held their awards on May 14th 2020. Chant West’s Head of Research Ian Fryer said that this year Chant West has recognised funds that have long-term sustainability embedded in all they do. This is shown in how they run their fund, how they invest for members and how they help members engage with their long-term needs.
“The main game is not just what we do for our members this year but rather what we do for our members over the next 30+ years.” Mr Fryer said. “Super funds need to invest in their people and their systems to ensure they can continue to deliver for members over the long-term. And on performance, it’s not about the one year numbers but about the value funds add to members’ retirement income through strong performance over the long term. The best funds are those that keep their eye on the long game.”
You can read more about Chant West’s 2020 awards, and see an interview with Ian Fryer here.
Rainmaker announced the SelectingSuper award winners on November 21st 2019. Speaking to Financial Standard, Rainmaker executive Director of Research, Alex Dunnin said “What makes AustralianSuper stand out from the crowd to be this year’s winner is not its size but that as it gets bigger it gets better. It does this by not losing sight of its primary mission: delivering solid reliable investment returns after fees year after year and providing just the right type of extra features and services its growing number of members need.”
SuperRatings announced the 2020 Fund of the Year award winners on October 31st 2019. Executive Director Kirby Rappell said “More than ever before, super funds are focused on delivering value for money and quality outcomes for their members throughout their working life and into retirement. It’s fitting to recognise those funds that have done the most to help make our retirement system the envy of the world.”
“Congratulations to the team at Sunsuper on being awarded Fund of the Year for 2020. It was certainly a tough decision, but Sunsuper has clearly demonstrated their commitment to member value across a range of criteria, including investment performance and fees, member services, financial advice and insurance, and fund governance.”
Funds of the Year – 2013 to 2020
In the table below you can find the Funds of the Year for the last seven years.
Sunsuper are again the big winners with six awards in total. Unisuper is close behind having won five times, Hostplus have won four times, and AustralianSuper have won three times, and REST and QSuper have both won twice.
It’s notable that all funds are Industry funds, except for Telstra Super which is a Corporate fund and QSuper which is a Public Sector fund (although now available to the general public).
| Year | Chant West | Rainmaker / Selecting Super | SuperRatings |
|---|---|---|---|
| 2020 | Sunsuper | Not announced yet | Sunsuper |
| 2019 | UniSuper | AustralianSuper | UniSuper |
| 2018 | Sunsuper | Hostplus | Sunsuper |
| 2017 | Sunsuper | AustralianSuper | QSuper |
| 2016 | UniSuper | UniSuper | QSuper |
| 2015 | UniSuper | Hostplus | Telstra Super |
| 2014 | REST | Hostplus | REST |
| 2013 | AustralianSuper | HESTA | Sunsuper |
Sources: Chant West, Rainmaker and SuperRatings
Other award winners for 2019/2020
Besides the Fund of the Year, each research house also awards funds for excelling in more specialist areas, such as pensions, investments and innovation.
Chant West
| Award | Winner |
|---|---|
| Pension Fund of the Year | QSuper |
| Advised Product of the Year | Netwealth Accelerator |
| Corporate Solutions Fund of the Year | Sunsuper |
| Specialist Fund of the Year | Cbus |
| Best Fund: Investments | QSuper |
| Best Fund: Member Services | Sunsuper |
| Best Fund: Insurance | NGS Super |
| Best Fund: Advice Services | UniSuper |
| Best Fund: Innovation | Russell iQ Super – Employer |
| Best Fund: Integrity | VicSuper |
| Best Fund: Longevity Product | Colonial First State FirstChoice Wholesale |
Source: Chant West
Rainmaker / Selecting Super
| Award | Winner |
|---|---|
| Best Long Term Performance | Hostplus |
| MemberSelect | AvSuper |
| Best in Show – MySuper Product | AustralianSuper |
| Best in Show – MySuper Lifecycle | Sunsuper for life |
| Best in Show – Workplace | Unisuper |
| Best in Show – Personal | AustralianSuper |
| Best in Show – Pension | Cbus Super Income Stream |
| Best Risk-Adjusted Performance | HESTA Core Pool |
| Best Performance – Australian Equities | AMG Corporate Super |
| Best Performance – International Equities | WA Super |
| Best Performance – ESG | HESTA Eco Pool |
| Best Performance – Cash | AMG Corporate Super |
| Best Performance – Fixed Income | Hostplus |
| Best Performance – Property | Sunsuper Super-savings |
| Best Super Fund for Young Members | ANZ Smart Choice Super |
| Best Value Insurance | Equip MyFuture & Hannover Life Re of Australasia |
| Best Insurance – High Risk | Equip MyFuture & Hannover Life Re of Australasia |
| Best Asset Consultant | Frontier Advisors |
| Outstanding Mental Health and Wellbeing Initiative Award, presented with SuperFriend | TAL |
| Industry Service Award | Robert Fowler |
Source: Rainmaker / SelectingSuper
SuperRatings
| Award | Winner |
|---|---|
| Pension of the Year | QSuper |
| MyChoice Super of the Year | Sunsuper |
| MySuper of the Year | UniSuper |
| Career Fund of the Year | HESTA |
| Best New Innovation | Hostplus Self Managed Invest |
| Momentum | Cbus Super |
| Net Benefit | AustralianSuper |
| Smooth Ride | QSuper |
| Infinity | Australian Ethical Super |
Source: SuperRatings
I did a quick analysis of my Super account and believe me I’m no Math Genius. I looked at my Company’s contribution to my super account + my Salary Sacrifice contribution, took that amount away from last years Super Balance and it appears my Care Super fund made me $10K for the year. Does this seem about right. How would I know what the other funds (True % of return) such as your article 2020 Winner of Best Super Fund award Supersun (or was it SunSuper!!) return for the exact same amount of money invested, be?
Without withdrawing every Dollar to check this exercise, you can look at the % of growth, but is that ‘Real’ in terms of actual $$ return. Im not complaining ( well maybe a little) I thought Super yearly returns on $120K Super Balance might be a little more than this? Am I being unrealistic. Panic mode Now age 60 and Female. !! Don’t want to have the mentality of NOT turning on the AC in Summer thinking about the $$$ !!