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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 advisor or this fund before making an investment decision.

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

Typical Fees

Balance This Fund Industry Average Difference
50k $1,150 $696 $454
250k $3,732 $2,999 $733
500k $6,902 $5,691 $1,211

Investment Allocation

Intl shares 28.0%
Aus shares 30.0%
Property 6.0%
Alternative 7.0%
Fixed interest 24.0%
Cash 5.0%

Fees & Charges

Membership Fee $660
Asset Admin Fee 0.13%
Investment Fee 0.85%
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

Total Assets $37,366,793,570
Year Started 1992
Target Market
Offered to Public?
Fund Type Master Trust-Allocated Pension

Fund Highlights - provided by Summit Personal Pension

Suited to investors with diverse and complex investment needs
Sophisticated suite of investment options - including managed funds and direct assets across both super and non-super investments
Consolidated investment reports, with online access to view portfolio details
Fee aggregation between super and non-super investments

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 6.18%
1.36%
9.35%
14.59%
19.80%
0.40%
Fund
Benchmark
High Growth 8.91%
8.62%
-0.38%
0.82%
11.82%
13.21%
18.01%
17.79%
26.30%
22.59%
-3.50%
-3.09%
Fund
Benchmark
Conservative Balanced 4.47%
4.40%
2.34%
3.46%
7.46%
8.25%
11.42%
11.01%
15.50%
12.60%
3.20%
3.18%
Fund
Benchmark
Growth 7.57%
7.52%
0.52%
2.80%
10.47%
11.50%
16.33%
15.91%
23.20%
19.45%
-1.50%
-1.21%
Fund
Benchmark
Capital Stable 2.86%
2.73%
2.83%
3.64%
5.79%
6.35%
9.23%
8.17%
11.40%
9.14%
4.80%
4.79%
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

Established in 1992 as a platform service managed by AMP, Summit Personal Super and Pension are designed for individuals with diverse and complex investment needs, wanting a convenient way to build their super savings and transition to a pension.

Summit Personal Pension provides members with access to over 260 Diversified and Single Manager options. Access to Direct Shares, ETFs, LICs and Term Deposits is also provided. The Summit Select Diversified Active Balanced option has underperformed the SuperRatings Index over the long term.

Fees for this product are higher than the industry average across all account balances assessed. A minimum member fee of $396 pa applies to small account balances. However, a tiered administration fee scale provides discounts for larger account balances. Further savings can be obtained from family fee aggregation. Moreover, no exit fees or switching fees are applicable, although changing investment options may incur transaction costs. Adviser commissions are charged as separate costs.

An excellent level of pension flexibility is provided. Members can choose from a variety of pension payment frequencies ranging from fortnightly to annually and can also elect payment dates. Furthermore, payments can be set to increase by CPI or a nominated percentage annually. Death cover is also available to pension members.

Through North Online, members can obtain investment portfolio information, complete transactions and produce consolidated reports at any time. Members also have access to a variety of financial simulators and retirement calculators, as well as a wealth of educational materials, tools and online learning through AMP's website.