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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.

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

Typical Fees

Balance This Fund Industry Average Difference
5k $98 $155 -$57
50k $975 $629 $346
100k $1,950 $1,160 $790

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 ($) $0
Administration Fee (%) 1.40%
Investment Fee 0.55%
Switching Fee $0
Exit Fee $0
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 373,793
Total Assets $16,718,120,000
Year Started 2006
Target Market All Industries
Offered to Public? No
Fund Type Master Trust-Personal

Fund Highlights - provided by IOOF Pursuit - Core Personal Superannuation

Simple regular contribution and income re-investment options.
Access to Term deposits and over 35 Australian and International funds from 15 leading investment managers generally at wholesale prices.
$2,000 minimum entry. Switchability between products.
Flexible Insurance options. Members can apply for insurance online.

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 -2.34%
-1.60%
10.84%
9.60%
14.18%
12.66%
16.28%
14.73%
-1.54%
0.45%
Fund
Benchmark
Conservative Balance -0.03%
-0.71%
8.71%
7.28%
10.70%
9.64%
13.60%
11.26%
Fund
Benchmark
Secure 5.80%
-0.71%
4.90%
7.28%
6.62%
9.64%
Fund
Benchmark
Growth -1.04%
-2.51%
12.79%
10.71%
16.40%
14.01%
21.52%
17.11%
-5.14%
-0.95%
9.07%
9.40%
Fund
Benchmark
Australian Shares 2.11%
-5.16%
23.47%
5.70%
17.72%
16.77%
-10.90%
21.07%
11.09%
-6.15%
Fund
Benchmark
Overseas Shares -2.06%
-5.46%
22.39%
19.16%
19.43%
17.63%
32.22%
26.14%
-7.28%
-2.45%
5.03%
5.86%
Fund
Benchmark
Capital Stable 9.47%
0.46%
11.46%
5.66%
3.01%
7.34%
6.94%
8.29%
Fund
Benchmark
Property 9.84%
7.11%
18.02%
10.78%
4.60%
9.09%
24.81%
10.99%
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

Initially established in 2006, the IOOF Pursuit suite consists of 'Core', 'Select' and 'Focus' super and pension products, having added the 'Focus' range in October 2011.

The IOOF Pursuit product suite allows members to switch their superannuation between any of the Super and Pension products under the IOOF Pursuit banner. This facility provides members with more control over their super, enabling them to maximise savings through fee reductions as their account balance and needs change.

The investment menu consists of Multi and Asset Specific options including IOOF's MultiMix range of options, direct equities and Term Deposits. The Multi Series Balanced Trust outperformed the SuperRatings Index in 2015, with long term returns also positioned above the SuperRatings Index.

Fees are higher than the industry average across all account balances assessed. Administration fees include ongoing commissions of up to 0.60% pa paid to the financial adviser, however these can be negotiated and will depend on the individual.

The voluntary insurance package provides adequate choice and flexibility at a reasonable price. Income Protection (IP) is available for members working a minimum of 15 hours per week, providing 85% (including SG) salary coverage and a maximum cover of $30,000 per month across three waiting periods. IP cover is available over standard and long term payment periods.


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