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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 June 30, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $1,128 $706 $422
250k $5,243 $3,047 $2,196
500k $9,918 $5,779 $4,139

Investment Allocation

Intl shares 23.0%
Aus shares 31.0%
Property 4.0%
Alternative 6.0%
Fixed interest 29.0%
Other 7.0%

Fees & Charges

Membership Fee $78
Asset Admin Fee 1.32%
Investment Fee 0.78%
Switching Fee $30
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

Year Started 1997
Target Market
Offered to Public?
Fund Type Master Trust-Allocated Pension

Fund Highlights - provided by MLC MasterKey Account Based Pension

Fund manager rebates are passed onto the clients.
Rebates apply for large account balances.
Rebalancing of funds happens on an as needed basis, not at set times.
Non - lapsing binding death benefits.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 0.68%
0.68%
10.49%
13.13%
15.62%
0.50%
Fund
Benchmark
High Growth -0.48%
0.82%
-0.48%
0.82%
13.77%
13.21%
17.56%
17.79%
22.59%
22.59%
-3.17%
-3.09%
Fund
Benchmark
Conservative Balanced 0.63%
3.46%
0.63%
3.46%
8.25%
8.25%
10.26%
11.01%
11.76%
12.60%
2.23%
3.18%
Fund
Benchmark
Growth 0.10%
2.80%
0.10%
2.80%
11.91%
11.50%
14.91%
15.91%
18.80%
19.45%
-1.09%
-1.21%
Fund
Benchmark
Australian Shares 2.47%
2.22%
2.47%
2.22%
6.80%
6.75%
14.50%
18.31%
24.03%
23.30%
-8.67%
-6.67%
Fund
Benchmark
Overseas Shares -3.88%
-2.72%
-3.88%
-2.72%
22.44%
20.36%
18.69%
19.88%
26.81%
29.76%
-1.11%
-3.07%
Fund
Benchmark
Capital Stable 0.70%
3.64%
0.70%
3.64%
5.85%
6.35%
7.41%
8.17%
8.05%
9.14%
3.84%
4.79%
Fund
Benchmark
Property 22.65%
13.83%
22.65%
13.83%
17.77%
10.92%
8.71%
10.68%
21.93%
12.91%
9.11%
7.92%
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

MLC MasterKey Account Based Pension was closed to new members in October 2007, however it offers its existing members a high level of service and flexibility.

Members have access to a comprehensive investment menu, comprising both Diversified and Single Sector options, as well as managed investments across a range of asset classes. The MLC Horizon 4 - Balanced Portfolio underperformed the SuperRatings Index over the 5 years to 30 June 2015.

Fees are higher than the industry average across all account balances assessed; however, fee rebates apply to the management fee based on the combined account balances of over $200,000 between members and any eligible linked investors. No transaction fees are charged for withdrawals and members are entitled to 4 free investment switches per financial year.

MLC MasterKey Account Based Pension offers good flexibility with a choice of 4 pension payment frequencies and non-lapsing binding and non-binding beneficiary nominations. Members can also set up their pension to be automatically increased by a nominated amount annually.

A range of additional benefits such as financial planning, discounted health insurance, online access, investor educational materials and regular newsletters are accessible to members.