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What the Researchers Say:

A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.

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

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  • Platinum
Awards
Fund data valid as of July 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $110 $156 -$46
50k $398 $627 -$229
100k $718 $1,155 -$437

Investment Allocation

Intl shares 35.0%
Aus shares 23.0%
Property 10.0%
Alternative 14.0%
Fixed interest 6.0%
Cash 5.0%
Other 7.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.00%
Investment Fee 0.64%
Switching Fee $0
Exit Fee $35
Account Size Discount No
Employer Size Discount No

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 2,131,755
Total Assets $101,000,000,000
Year Started 1986
Target Market All Industries
Offered to Public? Yes
Fund Type Industry-Public Offer

Fund Highlights - provided by AustralianSuper - Westscheme

Strong investment returns and low fees
Flexible investment choice - 13 options including the Member Direct option
Award winning communication and investor education
Free workplace, retirement and education seminars
Commission free financial advice

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 2.86%
2.65%
4.54%
2.81%
10.86%
9.60%
13.88%
12.66%
15.63%
14.73%
0.98%
0.45%
Fund
Benchmark
Conservative Balance 2.24%
2.01%
4.87%
2.82%
8.88%
7.28%
11.25%
9.64%
13.21%
11.26%
2.78%
1.87%
Fund
Benchmark
Secure 0.14%
2.01%
2.07%
2.82%
4.92%
7.28%
2.27%
9.64%
3.50%
11.26%
4.87%
1.87%
Fund
Benchmark
Diversified Fixed Interest 0.91%
0.65%
3.76%
4.43%
5.96%
3.93%
6.23%
5.52%
5.97%
4.65%
12.07%
8.94%
Fund
Benchmark
Growth 3.31%
3.18%
3.69%
2.10%
12.68%
10.71%
16.23%
14.01%
17.27%
17.11%
-0.67%
-0.95%
Fund
Benchmark
Australian Shares 6.00%
5.68%
4.16%
1.50%
6.34%
5.70%
17.43%
16.77%
21.66%
21.07%
-4.58%
-6.15%
Fund
Benchmark
Overseas Shares 2.70%
2.74%
-0.03%
-2.30%
22.92%
19.16%
17.32%
17.63%
23.83%
26.14%
-2.18%
-2.45%
Fund
Benchmark
Capital Stable 1.59%
1.32%
5.15%
3.36%
7.05%
5.66%
8.31%
7.34%
9.26%
8.29%
4.86%
4.06%
Fund
Benchmark
Cash 0.16%
0.16%
2.20%
1.90%
2.45%
2.25%
2.56%
2.42%
3.19%
2.94%
4.33%
4.04%
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

Established in 1986, Westscheme merged with AustralianSuper in 2011. As a result of the merger, Westcheme members benefit from access to greater investment choice, lower fees and a full suite of insurance cover.

AustralianSuper members have access to 12 Diversified and Single Sector investment strategies, which includes a Socially Aware option. Furthermore, access to Term Deposits, ETFs and ASX300 shares is provided via the Member Direct option (Use of the Member Direct option entails additional costs). The AustralianSuper Westscheme Balanced option delivers good overall performance, with top quartile returns over five years to 30 June 2015, and long-term performance in-line with the SuperRatings Index.

Fees for the Balanced option are well below the industry average across all assessed account balances. No switching fees are charged, however exit fees do apply.

Former Westscheme members who joined before 1 January 2012 are offered Death only, Death/TPD and Income Protection Insurance. Members under 60 years of age are automatically entitled to one unit of Death & TPD insurance, while members aged 60-69 are eligible for automatic Death cover only. Income Protection is offered to 85% of salary after a 30 day waiting period. Members who joined after 1 January 2012 receive the main AustralianSuper insurance offering.

A number of additional services such as health insurance, banking products and retirement planning services are offered. Regular superannuation and retirement seminars are also available to its members.


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