legalsuper MySuper BalancedInformation shown is for the balanced option.
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.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$68|
|Administration Fee (%)||0.29%|
|Account Size Discount||Yes|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Legal Profession|
|Offered to Public?||Yes|
Fund Highlights - provided by legalsuper MySuper Balanced
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- 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.
Percentage of Growth Assets
What the researchers say
Established in 1989 to provide superannuation services to legal professionals, legalsuper is now a public offer industry fund dedicated to serving the legal community. The fund is a finalist of the 2017 SuperRatings Rising Star Award in recognition of its consistent improvements to its product offering, which have significantly enhanced value to members.
The legalsuper MySuper Balanced option is an actively managed, diversified investment option. It has outperformed the SuperRatings Index over the short to long term. Choice members have access to 12 additional Diversified and Single-Sector investment option. Access to ASX300 shares, Term Deposits, ETFs and a selection of LICs is also available via the Direct Investment Option (Use of the Direct Investment Option entails additional costs).
Fees for the MySuper Balanced option are below the industry average across all assessed account balances. The administration fee is capped for account balances over $350,000 as at 30 June. No Switching fees are charged, although transactional costs may be incurred when changing investment options. Exit fees do apply.
legalsuper's Death Only, Death & TPD and Income Protection (IP) offerings remain competitive compared to industry peers following a review in October 2016. A high level of flexibility is available under IP insurance, with a choice of 2 year, to age 60 or to age 65 benefit periods. Members can also apply for unlimited Death Only and up to $3 million of Death & TPD cover.
legalsuper members have access to workplace seminars and one-on-one meetings with Client Service Managers. The fund supports professional development for its members, and has been working with SANE Australian on Mental Health Programs.