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What the Researchers Say:

A "reasonable value for money" superannuation 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 adviser or this fund before making an investment decision.

  • MySuper Silver
Awards
Fund data valid as of May 31, 2017

Typical Fees

Balance This Fund Industry Average Difference
5k $141 $152 -$11
50k $586 $601 -$15
100k $1,081 $1,106 -$25

Investment Allocation

Intl shares 25.0%
Aus shares 27.0%
Property 15.0%
Alternative 12.1%
Fixed interest 14.9%
Cash 6.0%

Fees & Charges

Administration Fee ($) $91
Administration Fee (%) 0.20%
Investment Fee 0.79%
Switching Fee $0
Exit Fee $60
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 30,537
Year Started 2014
Target Market All industries
Offered to Public? No
Fund Type Industry-MySuper

Fund Highlights - provided by Concept One - MySuper

The fund provides members with secure online access to their account details

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 10.04%
10.31%
2.39%
2.81%
8.83%
9.60%
10.13%
12.66%
11.79%
14.73%
-1.05%
0.45%
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 1986, Concept One is an industry fund sponsored by IEUWA and the Association of Independent Schools of Western Australia. Concept One is a multi-employer plan, meaning any employer-sponsored member can join. The fund provides a simple and easy to understand structure, focusing on providing a personal service to members.

The fund is MySuper authorised, and from 1 January 2014, the existing Balanced option is the default MySuper offering for members who do not choose an investment option. The default Balanced option has underperformed the SuperRatings Index over the short and long term. Choice members have access to an additional 2 Diversified options and a Cash option.

The fee structure is higher than the industry average across all account balances assessed; however, the administration fee is capped at $250 pa. Members can also make unlimited free switches but exit fees do apply.

Concept One provides two levels of insurance. Members working 15 hours or more per week automatically receive Death and TPD insurance, while members working less than 15 hours per week receive Death and limited TPD cover (limited to Activities of Daily Living). The voluntary Income Protection offering provides up to 75% salary coverage with benefit payments of 2 years or to age 65 across a choice of 3 waiting periods. Premiums vary between 'education' or 'non-education' occupational categories.

Concept One offer a range of member communication options including online account access and phone assistance via the Fund Administrator.