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What the Researchers Say:

A "reasonable value for money" fund that is performing well in a number of assessment areas but with average or below average features and/or performance in a number of other areas of our assessment.

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

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

Typical Fees

Balance This Fund Industry Average Difference
50k $395 $698 -$303
250k $1,975 $3,010 -$1,035
500k $3,950 $5,712 -$1,762

Investment Allocation

Intl shares 20.0%
Aus shares 21.0%
Property 8.5%
Alternative 10.5%
Fixed interest 30.0%
Cash 10.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.00%
Investment Fee 0.79%
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 $16,234,968,000
Year Started 2013
Target Market
Offered to Public?
Fund Type Government-Allocated Pension

Fund Highlights - provided by State Super Retirement Fund - Flexible Income Plan

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.

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 1.21%
4.49%
9.44%
12.00%
Fund
Benchmark
Growth 1.33%
2.51%
3.56%
2.80%
11.88%
11.50%
16.17%
15.91%
Fund
Benchmark
Australian Shares 3.05%
3.52%
4.14%
2.22%
8.15%
6.75%
17.30%
18.31%
Fund
Benchmark
Overseas Shares 0.98%
2.62%
0.61%
-2.72%
19.17%
20.36%
20.12%
19.88%
Fund
Benchmark
Capital Stable 1.08%
1.36%
5.05%
3.64%
7.33%
6.35%
8.97%
8.17%
Fund
Benchmark
Cash 0.60%
0.68%
2.07%
2.25%
2.34%
2.61%
2.38%
2.78%
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 StatePlus Retirement Fund is a government fund and was established in 1993 to cater for current and former New South Wales and Commonwealth public sector employees and their families. The Flexible Income Plan commenced in April 2013 and a minimum initial investment of $20,000 is required to be eligible for membership.

The Flexible Income Plan offers a simple investment menu, consisting of 4 Diversified and 4 Single Sector options, as well as a two non-unitised funds, the Fixed Term Fund and the Fixed Payment Fund. While limited performance history is available for this product, the Balanced Fund outperformed the SuperRatings Index over the 12 months to 30 June 2016.

The fee structure of the Flexible Income Plan is straightforward with only an investment fee, which includes costs of financial advice, and an indirect cost ratio charged. Fees are lower than the industry average across all account balances assessed. There are no exit fees and members can switch between investment options at no cost.

Reasonable flexibility is available through the Flexible Income Plan. Members are able to select from 4 pension payment frequencies with payments made on a day specified by the fund. If members do not select a drawdown strategy, pension payments will be taken according to growth assets, with the more conservative options being drawn down first.

The fund offers members access to financial planning, as well as providing six-monthly account statements. Additionally, a range of online calculators and educational fact sheets are available on the fund's website.


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