LESF MySuperInformation shown is for the balanced option.
What the Researchers Say:
An OTHER rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.
You should contact your financial adviser and/or this fund directly before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$0|
|Administration Fee (%)||0.83%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||All Industries|
|Offered to Public?||Yes|
Fund Highlights - provided by LESF MySuper
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 April 1989 as the Queensland Law Society Superannuation Scheme, LESF Super is now a public offer superannuation fund, with the aim to provide a simple yet effective super solution to meet members' retirement needs. LESF MySuper is an authorised MySuper product, which was launched in January 2014. In February 2016, LESF Super completed its merger with the Managed Australian Retirement Fund.
The assets of the LESF MySuper option are invested mainly in shares and fixed interest. It has underperformed the SuperRatings Index over the short term and long term.
With no fixed dollar member fees applied, LESF MySuper fees are lower than the industry average on small account balances, but become more expensive than an average fund's fees across medium and large account balances assessed. However, no transaction fees are applicable for withdrawals or investment switches.
LESF Super provides white collar members with a full suite of insurance cover. Eligible white collar members are automatically provided with Death & TPD cover and Income Protection insurance upon joining the fund. Members under 70 can also apply for up to $5 million Death cover and $3 million Death and TPD cover. Additional Income Protection (IP) cover is offered over a 2 year benefit period, covering 75% of salary or up to $25,000 per month, with a 30 day waiting period.
LESF Super launched a new website in September 2014, featuring a Learning Centre for educational purposes as well as employer and member online capabilities.