Sunsuper has surpassed all other super funds in the country to be named Chant West Super Fund of the Year. QSuper took out two awards including the other big award of the day, Pension Fund of the Year, and Best Fund: Investments.
In a big day for Sunsuper, the super fund collected three awards, including Best Fund: Member Services and Corporate Solutions Fund of the Year at Chant West's eighth annual Super Fund Awards via live stream on 14 May 2020.
The other winners are:
- Best Fund: Integrity – VicSuper
- Best Fund: Innovation – Russell iQ Super – Employer
- Best Fund: Advice Services – UniSuper
- Best Fund: Insurance – NGS Super
- Best Fund: Longevity Product – Colonial First State FirstChoice Wholesale
- Specialist Fund of the Year – Cbus
- Advised Product of the Year – Netwealth Accelerator
The Chant West Super Fund Awards not only recognise excellence among super and pension funds but showcase industry best practice to help lift standards across the super industry and improve member outcomes.
Ian Fryer, Head of Research at Chant West, said that while current events mean the format of the awards event looks very different, the core elements of the awards are unchanged.
"The purpose of the awards remains the same – to celebrate the funds that go above and beyond and provide the best investments and services to members to help them meet their retirement goals. A key part of our awards process is meeting with funds to drill down further into the services they provide, how they operate and how they think. We are very grateful to all funds facilitating online meetings with us this time, around in difficult circumstances, so we have all the information we need to assess the best funds," Mr Fryer said.
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.
Ian Fryer, Head of Research at Chant West, said "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. 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."
Indeed, the long-term performance of the super system as a whole has been impressive, even when the recent market falls are included.
"Since the introduction of the Super Guarantee in 1992, we have had three full market cycles and three significant downturns, and the performance numbers still look great with funds well above their investment objectives," Mr Fryer said.
"The strategy of using a well-diversified balanced fund to deliver investment returns that are meaningfully ahead of inflation has worked well for super fund members."
You can watch the full awards video here.