smartMonday super fund retains AAA Quality rating
Sydney, 18 May 2021 - smartMonday is pleased to announce its suite of super products has retained its SelectingSuper AAA Quality rating in a recent industry product assessment and following a challenging year for funds in Australia.
smartMonday DIRECT, smartMonday PRIME and smartMonday PENSION were assessed and achieved the AAA Quality rating amongst a field of nearly 700 superannuation products.
Just under one third (29 per cent) of Australia’s leading superannuation funds achieved a similar rating.
Shannon O’Shea, Head of Member and Corporate Services said: “We are proud that our fund has retained this rating over what has been a challenging year for funds and members generally in Australia. We are delivering on the commitment to our members to support them with meeting their financial fitness and retirement goals, whether they are in the Monday or Friday of their working life. This continued recognition from a leading industry assessor is a great confirmation that we are focussed on what matters for our members.”
The SelectingSuper AAA Quality Assessments are researched by Rainmaker Information and dissect superannuation products in an attempt to recognise quality and consistency in superannuation offerings.
"Members in a AAA-rated fund can be confident their fund will deliver on its promises," said Alex Dunnin, executive director of research and compliance at Rainmaker Information. "To achieve the AAA Rating, superannuation products are independently assessed to ensure they meet high standards across investments, fees, insurance, communications and more."
Of the 198 AAA rated products, 149 are from not-for-profit funds and 49 are from retail funds.