Bendigo SmartStart Super® awarded 5 star rating by CANSTAR for third year running
Bendigo SmartStart Super® has been awarded a 5-star rating by CANSTAR for the third year running for a superannuation fund that anyone can join. Premier financial data provider, CANSTAR, is Australia and New Zealand's most comprehensive specialist research service, and is used by over 325 financial institutions, government, media and finance professionals.
John Billington, Executive, Bendigo Wealth said:
"2015 has been a great year for Bendigo SmartStart Super and the award of a 5-star rating from CANSTAR in all five categories is a great way to celebrate the fund passing through the half billion dollar mark. This award puts us firmly in the top 10% of funds rated and underscores the low cost and popular features that make Bendigo SmartStart Super a smart choice for employers and our customers".
Mitch Watson - CANSTAR Research Manager said:
"Bendigo performed extremely well in terms of pricing with Bendigo SmartStart Super being one of the lowest priced products on offer in the market. In terms of affordability, Bendigo's SmartStart Super made the top five products in all our consumer profiles, achieving the lowest cost in two. Adding to this, their solid features offering, including consideration of such aspects as advice, insurances and investment options, they provide outstanding value across all profiles."
"In an increasingly competitive market it's an exceptional result to be providing 5 star value across all of our consumer segments. Bendigo has achieved this with SmartStart Super", Mr Watson concluded.
John Billington, Executive, Bendigo Wealth said:
"When we launched SmartStart four years ago, Bendigo Wealth emphasised that our aim was to provide our customers with a low cost, high support retail superannuation fund where fees were kept to a bare minimum. It's great to be able to put on the record that our mission is being realised and more importantly, consistently recognised by ratings agencies across the board.
The Bendigo SmartStart Super default investment option has also been awarded Morningstar's top accolade of 5 stars for its three year performance.
The SmartStart default investment option is comprised of three age-based life stages:
- Under age 55 - Bendigo Growth Index Fund
- Age 55 to 59 - Bendigo Balanced Index Fund
- Age 60 and over - Bendigo Conservative Index Fund
"September saw Bendigo SmartStart Super retain its position in the SuperRatings 2015 annual survey as the second cheapest superannuation fund that anyone can join3. When you take into consideration the fact that each of the funds included in the default investment option are also in the top quartile for investment performance against their peers as rated by Morningstar, our funds management team and Bendigo Wealth can be justifiably proud", Mr Billington concluded.
1) CANSTAR's Superannuation Star Ratings use a unique ratings methodology that compares both cost and features across superannuation products. To be eligible, superannuation funds must be accumulation funds, directly available to the public. This year CANSTAR has assessed 67 industry and retail superannuation funds. CANSTAR's Star Ratings report, including methodology, can be downloaded at www.canstar.com.au
2) The Morningstar Rating is an assessment of a fund's past performance - based on both return and risk - which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision. Any Morningstar ratings/recommendations contained in this report are based on the full research report available at www.morningstar.com.au. © 2015 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates nor their content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO").Past performance does not necessarily indicate a financial product's future performance. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.pdf. "
3) SuperRatings fee comparisons are based on a fund member earning $50,000 a year, with $50,000 in their super fund's default investment option.
Bendigo SmartStart Super ABN 57 526 653 420 is issued by Sandhurst Trustees Limited ABN 16 004 030 737 AFSL 237906, a subsidiary of Bendigo and Adelaide Bank Limited ABN 11 068 049 178.