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What the Researchers Say:

A "good value for money" 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 May 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $1,118 $707 $411
250k $4,853 $3,049 $1,804
500k $8,878 $5,783 $3,095

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 1.20%
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 633,685
Total Assets $13,409,406,127
Year Started 2007
Target Market
Offered to Public?
Fund Type Master Trust-Allocated Pension

Fund Highlights - provided by MLC MasterKey - Pension

Fund Manager rebates are passed onto the clients.
Rebates apply for large account balances.
Rebalancing of funds happens on a needs basis, not 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 2.88%
10.55%
13.18%
15.67%
0.54%
8.68%
Fund
Benchmark
High Growth 2.86%
3.50%
13.81%
13.21%
17.59%
17.79%
22.63%
22.59%
-3.13%
-3.09%
10.15%
11.80%
Fund
Benchmark
Conservative Balanced 2.24%
3.85%
8.27%
8.25%
10.29%
11.01%
11.78%
12.60%
2.26%
3.18%
7.54%
9.13%
Fund
Benchmark
Secure 1.04%
3.85%
1.41%
8.25%
2.65%
11.01%
2.73%
12.60%
4.60%
3.18%
4.28%
9.13%
Fund
Benchmark
Growth 2.74%
4.21%
11.97%
11.50%
14.97%
15.91%
18.87%
19.45%
-1.05%
-1.21%
9.29%
11.20%
Fund
Benchmark
Australian Shares 5.83%
5.54%
6.87%
6.75%
14.55%
18.31%
24.10%
23.30%
-8.61%
-6.67%
10.18%
12.47%
Fund
Benchmark
Overseas Shares 2.09%
0.46%
22.63%
20.36%
18.74%
19.88%
26.91%
29.76%
-1.06%
-3.07%
0.59%
7.44%
Fund
Benchmark
Capital Stable 1.73%
3.63%
5.82%
6.35%
7.38%
8.17%
8.02%
9.14%
3.85%
4.79%
5.76%
7.97%
Fund
Benchmark
Property 18.65%
11.94%
17.97%
10.92%
8.89%
10.68%
22.19%
12.91%
9.25%
7.92%
5.12%
11.91%
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 Pension was established in 2007 and is designed for individuals who are looking for a high level of service, flexibility and investment choices. Effective 1 July 2014, this product is not available to new investors.

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 has underperformed the SuperRatings Index over the long term.

Although fees are above the market average across all account balances assessed, fee rebates apply to the administration fee, based on the combined account balances of over $200,000 between members and any eligible linked investors. Members are able to switch investment options and make withdrawals at no cost.

MLC MasterKey Pension contains excellent features and offers a high level of flexibility in terms of payment options, choice of payment frequencies and draw down strategies, with members also able to set up their pension to be automatically increased by a nominated amount annually. Beneficiary options are comprehensive, including non-lapsing binding, non-binding and reversionary beneficiary nomination.

Members are offered to a range of deals on financial and lifestyle products through MLC Member Rewards, while online access, investor educational materials and regular newsletters are also accessible to members.


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