Research house Standard & Poor's (S&P) will widen its research coverage adding industry superannuation funds to its rating process.
"We recognised there was a gap in our offerings to financial planners. We found there was a demand from them to have industry superannuation funds rated," S&P director of fund ratings Mark Hoven said.
Financial planners were looking to either move clients into these funds or take them out and move them into retail master trusts. Whatever choice they made, research was needed on these funds, he said.
Although there has been debate regarding the level of interest in industry superannuation fund by financial planners, Hoven said going forward there will be less distinction in the market.
"We recognise that ultimately there will be a more level plain field in the market. With the messages of low fees and low costs surrounding industry funds, planners will be making more changes between all products including those from industry funds and retail master trusts," he said.
S&P will begin its research on industry superannuation that have unit pricing.
"There are some challenges to rating these funds. Daily unit pricing is one of them. We will begin our research on superannuation funds that offer unit pricing," he said.
The firm has hired Justine Gorman as an associate to assist S&P with its research on industry superannuation funds.
Gorman who previously worked with PricewaterhouseCoopers in London has worked in the pension and superannuation industries in both the UK and Australia.
"Justine brings us a strong body of knowledge abut global fund mangers to complement the demand in that area, while having extensive experience with Australian superannuation products," Hoven said.
