What the Researchers Say:

A "good value for money" superannuation 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.

  • MySuper Gold
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $110 $155 -$45
50k $560 $629 -$69
100k $1,060 $1,160 -$100

Investment Allocation

Intl shares 21.0%
Aus shares 21.0%
Property 4.7%
Alternative 4.7%
Fixed interest 27.7%
Cash 21.0%

Fees & Charges

Administration Fee ($) $60
Administration Fee (%) 0.60%
Investment Fee 0.40%
Switching Fee $0
Exit Fee $0
Account Size Discount Yes
Employer Size Discount Yes

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 774,338
Total Assets $63,554,180,659
Year Started 2013
Target Market All Industries
Offered to Public? Yes
Fund Type Master Trust-MySuper

Fund Highlights - provided by Colonial First State - FirstChoice Super MySuper

FirstChoice Employer Super gives employees access to great investment options from some the best fund managers. Plus competitive fees, flexible insurance options and education tools to help you understand your investment.

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Conservative Balance -1.58%
Growth -4.10%
Capital Stable -0.67%
  • 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

Colonial First State FirstChoice Employer division was established in 2002 and is open to employees of participating employer groups and their spouses. It is MySuper compliant.

The default investment strategy consists of 11 'Lifestage' options that members are allocated to are based on the year they were born. As the member gets older, growth assets automatically decline. The investment allocation of the Lifestage 1955-1959 is shown in the chart below. The fund also offers a comprehensive selection of additional investment options, allowing Choice members to tailor their investments to their individual needs. Long term performance of the lifestage options is currently unavailable.

Fees are lower than the industry average across all account balances assessed, however fee rebates are available and further discounts may apply depending on the specific employer plan. Buy/sell spreads form part of the fee structure.

A full suite of comprehensive insurance is accessible through Colonial FirstChoice Employer. Conditions are flexible and features are extensive, including unlimited Death cover to age 75. Income Protection (IP) is offered to a maximum of 85% of salary (including super benefits) with a choice of 30, 60 or 90 day waiting periods and 2 year, 5 year or to age 65 benefit periods.

Colonial FirstChoice Employer offers members and employers online access to their account via FirstNet, as well as interactive educational services. Comprehensive and regular reporting featuring bi-annual benefit statements are also available.

Other Funds Promoted