The $3 billion MTAA Super Fund, an industry fund which has more than 40 per cent of its assets in private equity and other unlisted investments, has won the Fund of the Year Award for 2005.

MTAA beat “a quality Melbourne Cup field”, according to Paul Watson, deputy executive director, who thanked his competitors including Australian Retirement Fund, which had won the award for the past two years. “I’m glad Makybe Diva didn’t happen twice”. He said MTAA “walks a slightly different path from a lot of funds – I thank the board which oversees that, as well as our service providers with whom we have a true partnership”. He said: “The exacting assessment and methodology of SuperRatings gives me comfort that (they) are the predominant rater in the country.” MTAA is advised by Access Economics of Canberra, whose clients have tended to make greater use of alternatives, primarily private equity and infrastructure, than those of other asset consultants. Jeff Bresnahan, chief executive of SuperRatings, which judged and presented the awards, said: “Members of MTAA Super have enjoyed the highest value for money available in the industry based on our judgement criteria, all delivered within a strong governance framework.” The third annual awards were held in Melbourne last week, coinciding with, but not part of, the ASFA conference, and attracted a sell-out audience of 250. For the first time SuperRatings announced the runner-up for the Fund of the Year, which went to REST. Neil Cochrane, REST’s chief executive, thanked his service providers including asset consultant JANA, the funds managers, insurer, Money Solutions financial planners and AAS member administrator. “Nobody remembers who came second, but please remember this time,” he said. The award for the new category of Best New Product went to Virgin Super for Business and the Rising Star award was shared by AGEST and LUCRF.

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