Prime Super receives six AAA quality ratings
This year, as part of Rainmaker Information’s annual assessment, the quality ratings body reviewed nearly four-hundred products. Only 158 met each of the benchmarks required to qualify for a AAA Quality Rating.
Prime Super qualified for six AAA Quality Ratings this year.
This year, fewer super funds qualified overall, compared to the 66 funds acknowledged with a quality rating in 2022. In 2023, only 56 out of the 149 super funds that were assessed received a AAA Quality Rating.
The Rainmaker Information AAA Quality Rating recognises quality and excellence in an Australian super fund product and is only awarded when a range of qualifying benchmarks are reached or surpassed:
- Investments—including the investment menu, investment processes, investment performance and risk-adjusted performance over at least five years.
- Fees—including administration fees, investment fees and indirect costs.
- Insurance—including the types of insurance options offered, the costs, the default coverage and variations by age, occupation, gender and industry.
- Company and operations—including the operational structure, trustee board and senior management, fund compliance, the size of the fund, complaints history and resolution, administration and investment flexibility, and communications with members as just some examples.
- Extra services—including advice services and other valuable services available to members.
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If you’d like to find out more about all of the Prime Super products with a AAA Quality Rating, book a chat with one of our super specialists today.
This article is current at the date of publication and is subject to change. It contains general information and does not take account of your specific objectives, financial situation or needs or personal circumstances. You should seek professional financial advice, consider your own circumstances and read our Product Disclosure Statement (PDS) before making a decision about Prime Super. For a PDS and Target Market Determination call 1800 675 839 or visit the primesuper.com.au/pds. Prime Super Pty Ltd ABN 81 067 241 016 AFSL 219723 RSE L0000277 (Trustee), Prime Super ABN 60 562 335 823 RN 1000276.