RetireSelect SuperInformation shown is for the balanced option.
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 advisor or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$0|
|Administration Fee (%)||0.55%|
|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||All Industries|
|Offered to Public?||Yes|
|Fund Type||Master Trust-Personal|
Fund Highlights - provided by RetireSelect Super
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
RetireSelect Super was established in November 2013 by MAP Funds Management Ltd. It is a public offer super fund which offers a low cost solution to individuals wanting greater flexibility in investment choices.
The RetireSelect Super investment menu consists of five Diversified and Single-Sector strategies, a Cash Hub as well as Super Wrap investment options. These provide direct access to ASX300 Shares, Term Deposits, a wide selection of Exchange Traded Funds (ETFs), Listed Investment Companies (LICs), SMA model portfolios and managed funds. The Balanced option has underperformed the SuperRatings Index over the last two years. Long-term returns are not currently available.
Fees for this product are lower than the industry average across all account balances assessed. However, a minimum administration fee of $120 pa applies to account balances under $28,572. Exit fees and switching fees are also charged, with members entitled to 2 free switches each year. Furthermore, an ongoing advice fee may also be applicable and can be negotiated with the financial adviser.
RetireSelect Super offers flexible insurance solutions with a choice of group life cover or retail insurance. Automatic Death and TPD cover is provided to members upon joining the fund. Members can also apply for unlimited Death only cover and up to $3 million of Death & TPD cover. Income Protection (IP) insurance is optional, covering 85% of a member's salary over a 2 year or to age 65 benefit period, with a choice of 30 or 90 day waiting period.
Members have access to a quick and simple application process and can track their account information or vary insurance cover via an easy to use online portal.