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What the Researchers Say:

A "best value for money" fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement goals.

You should contact your financial adviser or this fund before making an investment decision.

  • Platinum
Awards
Fund data valid as of April 30, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $540 $700 -$160
250k $2,700 $3,016 -$316
500k $5,400 $5,720 -$320

Investment Allocation

Intl shares 18.5%
Aus shares 24.0%
Property 5.0%
Alternative 12.5%
Fixed interest 30.0%
Cash 10.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.20%
Investment Fee 0.88%
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 2004
Target Market
Offered to Public?
Fund Type Master Trust-Allocated Pension

Fund Highlights - provided by Colonial First State - FirstChoice Wholesale Pension

FirstChoice has become Australia's most widely used platform by offering advisers and their clients superior service, award-winning online functionality and 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 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 0.82%
9.35%
12.61%
15.39%
1.32%
9.89%
Fund
Benchmark
High Growth -1.66%
-0.36%
11.81%
13.21%
19.19%
17.79%
23.61%
22.59%
-4.81%
-3.09%
13.87%
11.80%
Fund
Benchmark
Secure 2.39%
1.92%
5.13%
8.25%
5.95%
11.01%
6.13%
12.60%
7.43%
3.18%
6.22%
9.13%
Fund
Benchmark
Growth -0.02%
1.40%
10.81%
11.50%
15.03%
15.91%
19.25%
19.45%
-1.56%
-1.21%
11.19%
11.20%
Fund
Benchmark
Australian Shares -1.07%
1.67%
6.82%
6.75%
17.95%
18.31%
24.14%
23.30%
-7.12%
-6.67%
11.68%
12.47%
Fund
Benchmark
Overseas Shares -6.89%
-3.54%
24.90%
20.36%
20.22%
19.88%
32.94%
29.76%
-5.54%
-3.07%
2.27%
7.44%
Fund
Benchmark
Capital Stable 1.84%
2.20%
6.31%
6.35%
8.04%
8.17%
9.25%
9.14%
4.56%
4.79%
7.88%
7.97%
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 30/06/2015, 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

Colonial First State established the FirstChoice Wholesale product in 2004, in order to cater to the superannuation needs of higher net worth members. In 2011 the minimum initial investment requirements were significantly reduced across the Wholesale range, and now only $20,000 is required to be eligible for this product.

Members have access to a diverse range of investment options across a variety of risk types, asset classes and single managers, including FirstRate Term Deposits. The FirstChoice Wholesale Moderate option has underperformed the SuperRatings Index over the longer term.

Colonial's fee structure is competitive particularly across smaller account balances, consisting of a percentage based fee and, where applicable, an adviser service fee. No fees are charged for establishing or terminating an account, withdrawals, regular pension payments or switching investments.

The Colonial Wholesale Pension offers good 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.

Colonial offers members a comprehensive range of online tools, education and news as well as the ability to access their account details and performance transactions online via the FirstNet facility.


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