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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.

  • Platinum
  • 7 Year Platinum Performance
  • SR50 Growth Index
Awards
Fund data valid as of July 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $85 $156 -$71
50k $382 $627 -$245
100k $712 $1,155 -$443

Investment Allocation

Intl shares 30.0%
Aus shares 26.0%
Alternative 24.0%
Fixed interest 10.0%
Cash 10.0%

Fees & Charges

Administration Fee ($) $52
Administration Fee (%) 0.15%
Investment Fee 0.51%
Switching Fee $25
Exit Fee $36
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 759,501
Total Assets $55,200,676,671
Year Started 2006
Target Market NSW Government
Offered to Public? Yes
Fund Type Industry-Personal

Fund Highlights - provided by First State Super Personal Division

Excellent value for money
Sound long term historical investment performance
Benefits associated with a large scale super fund
iPhone application & daily unit pricing
Fee for service financial planning available specifically tailored to First State Super members
Regular, targeted communication from fund via newsletters, seminars and online learning

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 3.19%
2.65%
1.60%
2.81%
9.90%
9.60%
13.32%
12.66%
16.19%
14.73%
0.16%
0.45%
Fund
Benchmark
High Growth 3.66%
3.67%
0.83%
0.68%
11.87%
11.66%
15.67%
15.76%
20.10%
20.40%
-1.68%
-3.15%
Fund
Benchmark
Conservative Balance 2.43%
2.01%
3.05%
2.82%
7.74%
7.28%
10.78%
9.64%
12.30%
11.26%
1.85%
1.87%
Fund
Benchmark
Diversified Fixed Interest 0.64%
0.65%
5.94%
4.43%
4.83%
3.93%
6.06%
5.52%
3.50%
4.65%
10.74%
8.94%
Fund
Benchmark
Australian Shares 5.39%
5.68%
2.24%
1.50%
5.78%
5.70%
16.77%
16.77%
19.63%
21.07%
-6.21%
-6.15%
Fund
Benchmark
Overseas Shares 1.92%
2.74%
-1.27%
-2.30%
18.07%
19.16%
18.64%
17.63%
26.63%
26.14%
-1.67%
-2.45%
Fund
Benchmark
Capital Stable 1.55%
1.32%
3.46%
3.36%
5.69%
5.66%
7.36%
7.34%
7.78%
8.29%
3.35%
4.06%
Fund
Benchmark
Property 3.13%
2.21%
14.63%
12.55%
11.65%
10.78%
8.37%
9.09%
12.51%
10.99%
7.66%
7.12%
Fund
Benchmark
Cash 0.17%
0.16%
1.97%
1.90%
2.36%
2.25%
2.57%
2.42%
2.94%
2.94%
3.97%
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

First State Super is an industry fund that has been providing superannuation services to NSW public sector employees since 1992. The fund opened its Personal plan in 2006 to cater to the needs of individuals and completed its merger with Health Super in 2012. First State Super is recognised as having one of the best MySuper products in the industry, as evidenced by its 9th consecutive Platinum rating and its nominations as a finalist for the Super of the Year Award in 2014 and 2015.

Members have access to 12 Single sector, Diversified and Socially Responsible investment options. The performance of the Growth option has been competitive compared to the SuperRatings Index over the long term. Also, the First State Super - High Growth option was the best performing investment option in the SR50 Growth Index for the five years to 30 June 2015.

Fees for the Growth option are well below the industry average across all account balances assessed. Ongoing costs are low, although switching and exit fees apply.

First State Super's insurance offering is rated as good for Death only cover, average for Death/TPD cover and excellent for Income Protection (IP) cover. Personal members can apply for an unlimited amount of Death cover, and up to $5 million of Death & TPD cover. IP is available with 2 year, 5 year or to age 65 benefit periods, with a choice of a variety of waiting periods ranging from 14 days to 90 days.

First State Super operates several member centres around Australia, allowing members to engage with the fund in their local area.


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