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What the Researchers Say:

An OTHER rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.

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

  • Other
Awards
Fund data valid as of March 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $660 $708 -$48
250k $3,300 $3,049 $251
500k $6,600 $5,778 $822

Investment Allocation

Intl shares 35.0%
Aus shares 35.0%
Fixed interest 25.0%
Cash 5.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.75%
Investment Fee 0.57%
Switching Fee $0
Exit Fee $0
Account Size Discount No
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

Total Assets $88,050,826
Year Started 2014
Target Market
Offered to Public?
Fund Type Industry-Allocated Pension

Fund Highlights - provided by LESF Account-Based Pension

No information was provided by the fund to SuperRatings, hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

What the researchers say

Established in April 1989 as the Queensland Law Society Superannuation Scheme, LESF Super is a public-offer superannuation fund, with the aim to offer a simple yet effective superannuation solutions to meet members??? retirement needs. LESF Account-Based Pension commenced in November 2014.

The investment menu consists of four investment strategies: Equities, Conservative, Cash and Balanced option. The performance history of the fund's default Balanced option is not yet available.

Fees associated with this product are higher than the industry average across medium and large account balances assessed. However, there are no transaction fees payable for withdrawals or investment switches.

LESF Account-Based Pension offers limited pension flexibility. Members have the option to receive their pension payments monthly, quarterly, half-yearly or annually, with payment dates set by the fund. Transition to Retirement account is also available, with a minimum initial investment of $20,000 required.

LESF Super launched a new website in September 2014 featuring a Learning Centre for educational purposes as well as employer and member online capabilities.


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