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What the Researchers Say:

A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.

  • Gold
Awards
Fund data valid as of October 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $940 $698 $242
250k $4,700 $3,010 $1,690
500k $9,200 $5,712 $3,488

Investment Allocation

Intl shares 20.0%
Aus shares 22.5%
Property 4.5%
Alternative 16.0%
Fixed interest 25.0%
Cash 12.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.20%
Investment Fee 1.68%
Switching Fee $0
Exit Fee $0
Account Size Discount Yes
Employer Size Discount N/A

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 774,338
Total Assets $63,554,180,659
Year Started 2002
Target Market
Offered to Public?
Fund Type Master Trust-Allocated Pension

Fund Highlights - provided by Colonial First State - FirstChoice Pension

FirstChoice has become the most widely used platform in Australia
The fund offers advisers and their clients superior service award-winning online functionality.
FirstChoice offers a wide range of investment and insurance options, all for some of the lowest fees in the platform market.

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 1.47%
1.27%
8.37%
11.61%
14.38%
0.44%
Fund
Benchmark
High Growth 2.27%
3.01%
4.78%
0.82%
10.08%
13.21%
17.16%
17.79%
24.22%
22.59%
-5.52%
-3.09%
Fund
Benchmark
Conservative Balanced 0.05%
2.08%
2.89%
3.46%
6.21%
8.25%
10.69%
11.01%
11.62%
12.60%
-3.13%
3.18%
Fund
Benchmark
Secure 0.42%
2.08%
2.82%
3.46%
4.36%
8.25%
5.17%
11.01%
5.35%
12.60%
6.65%
3.18%
Fund
Benchmark
Growth 2.09%
2.51%
0.41%
2.80%
9.76%
11.50%
13.96%
15.91%
18.17%
19.45%
-2.47%
-1.21%
Fund
Benchmark
Australian Shares 1.64%
3.52%
0.44%
2.22%
6.62%
6.75%
15.34%
18.31%
23.10%
23.30%
-4.60%
-6.67%
Fund
Benchmark
Overseas Shares -3.57%
2.62%
10.75%
-2.72%
18.65%
20.36%
12.49%
19.88%
32.70%
29.76%
-0.38%
-3.07%
Fund
Benchmark
Capital Stable 0.76%
1.36%
2.20%
3.64%
5.47%
6.35%
7.20%
8.17%
8.41%
9.14%
3.75%
4.79%
Fund
Benchmark
Property -7.59%
0.42%
21.94%
13.83%
18.66%
10.92%
10.87%
10.68%
23.97%
12.91%
9.56%
7.92%
Fund
Benchmark
Cash 0.48%
0.68%
1.40%
2.25%
1.84%
2.61%
1.94%
2.78%
2.71%
3.48%
3.86%
4.76%
Fund
Benchmark
  • Legend:
  • Outperformed average
  • Underperformed average
  • Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2016, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

The Colonial First State FirstChoice Allocated Pension was established in 2002. The Colonial First State Group currently manages or administers more than $200 billion globally and a minimum of $20,000 is required as an initial investment.

The fund offers a comprehensive selection of investment options across a range of risk profiles, asset classes and single managers, including FirstRate Term Deposits. Performance of the FirstChoice Moderate strategy has been below the SuperRatings Index over the long-term, however the extensive investment menu means returns may vary depending on the option and manager selected.

Fees are above the industry average across all account balances assessed, however a tiered fee rebate applies to account balances $400,000 and over. No fees are charged for investment switching, withdrawals, regular pension payments, establishing or terminating an account.

The FirstChoice Pension offers excellent pension flexibility. Members are able to select from 5 pension payment frequencies, including fortnightly pension payments. If the member does not nominate a drawdown strategy, pension payments will be taken according to growth assets, with the more conservative options being drawn down first. Members can elect to have their pension payments automatically increased by a nominated percentage or in line with CPI annually.

Financial planning services are accessible to members and the fund's website caters to advisers and members with a range of comprehensive educational materials, calculators and reporting and transactional capabilities available. Bi-annual account statements and newsletters are sent to members.


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