Su­per fund ranks well

Daily Mercury - - BUSINESS -

FOR the 11th year in a row, LGIA­su­per, which serves al­most 2000 mem­bers in Mackay, has achieved a Su­per Rat­ings ‘Plat­inum’ rat­ing on its MySu­per, Ac­cu­mu­la­tion and Pen­sion prod­ucts.

This fol­lows a rig­or­ous re­view of funds across Aus­tralia by in­de­pen­dent re­search firms Su­per Rat­ings and Chant West.

Su­per Rat­ings’ Fund Cred­it­ing Rate Sur­vey also put LGIA­su­per’s MySu­per ac­count in the top quar­tile for this fi­nan­cial year, as well as over the 10 years to Novem­ber 2018.

Re­leased monthly, the sur­vey pro­vides com­pre­hen­sive cov­er­age of su­per­an­nu­a­tion in­vest­ment per­for­mance for Aus­tralia’s ma­jor master trusts and not-for-profit funds.

Ad­di­tion­ally, the fund’s Ac­cu­mu­la­tion and Pen­sion ac­counts were awarded ‘five ap­ples’ rat­ings by Chant West, mak­ing LGIA­su­per a ‘High­est Qual­ity Fund’ for 2019.

Since the Fi­nan­cial Ser­vices Royal Com­mis­sion put the su­per­an­nu­a­tion in­dus­try in the fir­ing line, some of Aus­tralia’s big­gest funds have been crit­i­cised for “per­sis­tently un­der­per­form­ing”.

The ef­fects were high­lighted in a 2018 Pro­duc­tiv­ity Com­mis­sion re­port that found that an av­er­age em­ployee’s su­per­an­nu­a­tion ac­count at re­tire­ment could vary by as much as 40 per cent depend­ing on their choice of su­per provider.

As­sessed against Su­per Rat­ings’ propo­si­tion of “value for money” for mem­bers, LGIA­su­per fared very well across six cri­te­ria with judges cit­ing “solid in­vest­ment re­turns from a range of ready-made and sin­gle as­set class op­tions” as one of the rea­sons be­hind its high scores.

LGIA­su­per CEO Kate Far­rar said LGIA­su­per’s fo­cus on long-term per­for­mance and its mem­ber-driven ap­proach were in­stru­men­tal in the fund’s suc­cess and key rea­sons for its Su­per Rat­ings Plat­inum sta­tus and Chant West rank­ing.

“Man­ag­ing peo­ple’s fu­ture se­cu­rity is a re­spon­si­bil­ity we take very se­ri­ously. When peo­ple choose LGIA­su­per they are putting their trust in our in­vest­ment phi­los­o­phy,” Ms Far­rar said.

“LGIA­su­per in­vests in a range of busi­nesses and pub­lic in­fra­struc­ture, as well as liq­uid as­sets like shares, to pro­duce con­sis­tent re­turns that are less vul­ner­a­ble to pol­i­tics and pol­icy change.

“We look to pub­lic as­sets and prop­erty, like the Sun­shine Coast Air­port and Fitzroy River Ma­cadamia Farm, to en­sure that our in­vest­ments are spread across dif­fer­ent sec­tors and ben­e­fit the whole com­mu­nity. These are as­sets Cen­tral Queens­lan­ders un­der­stand and trust. By help­ing to build their own worth, they are also help­ing to build our great state.”

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