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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.

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

Typical Fees

Balance This Fund Industry Average Difference
5k $179 $155 $24
50k $1,034 $628 $406
100k $1,984 $1,158 $826

Investment Allocation

Intl shares 25.0%
Aus shares 30.0%
Property 10.0%
Alternative 5.0%
Fixed interest 25.0%
Cash 5.0%

Fees & Charges

Administration Fee ($) $84
Administration Fee (%) 1.35%
Investment Fee 0.55%
Switching Fee $0
Exit Fee $77.95
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 373,793
Total Assets $16,718,120,000
Year Started 2003
Target Market All members
Offered to Public? No
Fund Type Master Trust-Personal

Fund Highlights - provided by IOOF Portfolio Service - Personal Superannuation

Access to over 190 managed fund investment options plus over 60 shares listed on the ASX200, Term Deposits.
Access to Term Deposits.
Ability to track accounts online.
Ability to apply for insurance online through Financial Adviser.

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 -0.63%
-0.06%
10.84%
9.60%
14.18%
12.66%
16.28%
14.73%
-1.54%
0.45%
7.08%
8.71%
Fund
Benchmark
Secure 5.80%
0.33%
4.90%
7.28%
6.62%
9.64%
Fund
Benchmark
Growth 0.22%
-0.64%
12.79%
10.71%
16.40%
14.01%
21.52%
17.11%
-5.14%
-0.95%
9.07%
9.40%
Fund
Benchmark
Australian Shares 8.28%
-1.36%
19.38%
5.70%
24.38%
16.77%
-11.06%
21.07%
6.54%
-6.15%
Fund
Benchmark
Overseas Shares -5.46%
-4.66%
-0.15%
19.16%
Fund
Benchmark
Capital Stable 9.47%
1.32%
11.46%
5.66%
3.01%
7.34%
6.94%
8.29%
Fund
Benchmark
Property 9.84%
8.99%
18.02%
10.78%
4.60%
9.09%
24.81%
10.99%
Fund
Benchmark
Cash 1.71%
1.41%
2.81%
2.25%
3.71%
2.42%
5.21%
2.94%
6.27%
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

IOOF Portfolio Service Personal Superannuation is designed for individuals seeking a diverse choice of managed fund investments options without having to set up their own self-managed fund. Members can join with an initial investment of $10,000 or $2,000 if a regular investment plan is established.

The investment menu caters to a wide range of investors with an extensive choice of Multi and Asset specific strategies, as well access to Direct Shares and Term Deposits. Established 1 July 2007, the Multi Series Balanced Trust outperformed the SuperRatings Index in 2015 and the long term.

Fees are higher than the industry average across all account balances assessed, however, discounts apply once a member's balance exceeds $100,000. The fixed dollar fee is waived on balances over $150,000.

The insurance package is relatively expensive compared to average industry premiums, though choice and flexibility is competitive. Features include unlimited Death cover and access to both short and long term Income Protection (IP), with 85% (including SG) salary coverage and 3 waiting periods.

Portfolio Online, IOOF's online portfolio management tool, provides members and advisers with 24 hour account access. A full financial planning service on a fee-for-service basis is also available, covering all financial matters including super, managed funds, direct shares and estate planning.


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