Best performing super funds
Being in a consistently high performing super fund is one of the key factors in growing your super balance over time. Members of consistently poor performers are at risk of having substantially lower super balances at retirement.
The Productivity Commission review of superannuation produced an example of a 21-year-old on a $50,000 starting salary. If they joined a super fund that is consistently in the top quarter of funds rated by performance, they could expect to retire at 67 with a super balance of $1.2 million. If instead they joined one of the super funds that is consistently in the bottom quarter of funds, they would retire with $560,000 – 54% less.
So how does your super fund stack up against the competition? SuperGuide makes it easy with regularly updated performance tables.
Returns are not the only measure of a good fund – fees, insurance offerings, member services and investment choice are also important. However, if your fund has a long track record of underperformance it could be time to switch to a product with a history of superior returns.
When super performance tables are published in the media, it’s important to note that they are generally only listing super investment options in a single risk category. Most often this covers super investment options that are classed as ‘balanced’ or ‘growth’ which generally means they have 60-80% invested in growth assets.
SuperGuide publishes performance tables for 5 risk categories for super funds (All Growth, High Growth, Growth, Balanced and Conservative), all listed below.
The table below shows the top 25 balanced super options (60-76% growth assets) ranked by 5 year return.
Click here to see an extended table with results for 1 year, 3 years, 5 years, 7 years and 10 years.
|Fund||Investment option||Fund type||Anyone can join?||Annual fees (on a $50,000 balance)||5 yr return (% per yr)|
|Cbus||Growth (Cbus MySuper)||Industry||Yes||$524||5.6%|
|Mercy Super||MySuper Balanced||Corporate||No||$625||5.5%|
|BUSSQ||Premium Choice – Balanced Growth||Industry||Yes||$662||5.4%|
|First State Super||Growth||Industry||Yes||$527||5.1%|
|MTAA Super||My AutoSuper||Industry||Yes||$443||5.1%|
|Catholic Super||Balanced (MySuper)||Industry||Yes||$629||5.1%|
|VicSuper||FutureSaver – Growth (MySuper) Option||Industry||Yes||$588||5.1%|
|Sunsuper for Life||Balanced||Industry||Yes||$538||5.1%|
|UniSuper||Accum (1) – Balanced||Industry||No||$361||4.9%|
|Club Plus Super||MySuper||Industry||Yes||$574||4.9%|
|Vision SS||Balanced Growth||Industry||Yes||$488||4.9%|
|LGIAsuper||Accum – Diversified Growth*||Industry||Yes||$568||4.9%|
|NGS Super||Diversified (MySuper)||Industry||Yes||$460||4.7%|
|Equip MyFuture||Balanced Growth||Industry||Yes||$482||4.7%|
|Local Government Super||Accum – Balanced Growth||Industry||Yes||$631||4.6%|
|Intrust Core Super||MySuper||Industry||Yes||$633||4.5%|
|IOOF Employer Super Core||IOOF MultiMix Balanced Growth Trust||Retail||Yes||$817||4.4%|
|CSC PSSap||MySuper Balanced||Public Sector||No||$689||4.1%|
Note: Returns are net of investment fees, tax and implicit asset-based administration fees. Fees are based on a $50,000 balance as at 31 March 2020. Fees include percentage-based administration fees, member fees, investment management fees (including performance-based fees), indirect cost ratios (ICRs) and taxes, but exclude any applicable employer size rebates.
It’s important to note that the performance for the SR50 balanced index (the average across the 50 funds in the balanced investment option reviewed by SuperRatings) over 5 years was 4.1% per year, so all the funds listed above performed the same as or better than the average.
Fees are an important part of the equation, and there was a significant variation in the fees charged (based on a $50,000 balance) across the 30 funds. The most expensive fund (the only retail fund) charged $817 per year, while the average was $561 per year and the lowest was $361 per year.
Set out below are our key articles on the best performing super funds:
Set out below are all SuperGuide articles that relate to Best performing super funds.