Advertisement
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.

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

Typical Fees

Balance This Fund Industry Average Difference
5k $55 $155 -$100
50k $545 $628 -$83
100k $1,090 $1,158 -$68

Investment Allocation

Intl shares 18.5%
Aus shares 24.0%
Property 5.0%
Alternative 12.5%
Fixed interest 30.0%
Cash 10.0%

Fees & Charges

Administration Fee ($) $0
Administration Fee (%) 0.20%
Investment Fee 0.89%
Switching Fee $0
Exit Fee $0
Account Size Discount Yes
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 774,338
Total Assets $63,554,180,659
Year Started 2004
Target Market All Industries
Offered to Public? Yes
Fund Type Master Trust-Personal

Fund Highlights - provided by Colonial First State - FirstChoice Wholesale Personal Super

FirstChoice has become the most widely used platform by offering advisers and their clients superior service, award-winning online functionality and a wide range of investment and insurance options, all for some of the lowest fees in the platform market.

Fund Rating Snapshot

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

Rating Categories Clockwise from top

Performance
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.
Goverance
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
Balanced -0.24%
-0.06%
8.35%
9.60%
11.75%
12.66%
13.63%
14.73%
0.79%
0.45%
8.84%
8.71%
Fund
Benchmark
High Growth -2.75%
-1.78%
10.68%
11.66%
17.31%
15.76%
21.88%
20.40%
-4.84%
-3.15%
12.77%
9.40%
Fund
Benchmark
Secure 1.61%
0.33%
4.53%
7.28%
5.24%
9.64%
5.37%
11.26%
6.56%
1.87%
5.00%
7.70%
Fund
Benchmark
Diversified Fixed Interest 3.83%
2.45%
4.53%
3.93%
5.72%
5.52%
3.86%
4.65%
9.23%
8.94%
5.62%
5.65%
Fund
Benchmark
Growth -1.22%
-0.64%
9.71%
10.71%
13.96%
14.01%
17.30%
17.11%
-1.87%
-0.95%
10.18%
9.40%
Fund
Benchmark
Australian Shares -3.56%
-1.36%
6.04%
5.70%
16.82%
16.77%
22.44%
21.07%
-7.72%
-6.15%
10.83%
11.00%
Fund
Benchmark
Cash 1.21%
1.41%
2.16%
2.25%
2.24%
2.42%
2.87%
2.94%
3.82%
4.04%
4.42%
4.33%
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

Colonial First State established the FirstChoice Wholesale product in 2004, in order to cater to the superannuation needs of higher net worth members. With the minimum initial investment required to access the Wholesale product only $1,500, the product provides a competitive, lower cost solution for members seeking flexibility.

Members have access to a diverse range of investment options across a variety of risk types, asset classes and single managers, including FirstRate Term Deposits. The FirstChoice Wholesale Moderate option has underperformed the SuperRatings Index over the longer term.

Fees associated with this fund are competitive across lower account balances. The fee structure consists exclusively of percentage based fees which include a Stronger Super levy and, where applicable, an adviser service fee. No fees are charged for establishing or terminating an account, withdrawals or switching investments.

A full insurance suite is available to members at reasonable premiums. Members are offered Death cover up to $5 million, while TPD insurance is offered to members who work more than 15 hours per week up to a maximum of $3 million. Income Protection (IP) insurance covers up to 85% of salary and members can select from 2 waiting and benefit payment periods.

Colonial offers members a comprehensive range of online tools, education and news, as well as, the ability to access their account details and performance transactions online via the FirstNet facility.