What the Researchers Say:

A "reasonable value for money" 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.

  • MySuper Silver
Fund data valid as of July 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $133 $156 -$23
50k $623 $627 -$4
100k $1,168 $1,155 $13

Investment Allocation

Intl shares 24.0%
Aus shares 24.0%
Property 7.0%
Alternative 26.0%
Fixed interest 11.0%
Other 8.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.32%
Investment Fee 0.77%
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 28,343
Total Assets $4,799,000,000
Year Started 2013
Target Market Maritime Industry
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by Maritime Super - MySuper

Access to superannuation and retirement products that can take members through their working life and into retirement.
Access to Spouse and Child accounts, providing access to the benefits offered by the fund.
Affordable, quality advice from affiliated licensed financial planners.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 2.30%
  • 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

Maritime Super was formed on 1 March 2009 as a result of the merger between the Seafarers' Retirement Fund (SRF) and Stevedoring Employees Retirement Fund (SERF). Maritime Super is MySuper authorised and offers numerous divisions to members.

A new Moderate investment option was launched as being the default MySuper option which is a 50/50 split between growth and defensive assets. The fund's default Balanced option has outperformed the SuperRatings Index in the short term. The investment allocation of the Moderate option is shown in the chart below. Choice members have access to a further 5 investment options, consisting of 3 Diversified options and 2 Cash options along with a twelve month Fixed Term Deposit.

Maritime Super has a straightforward fee structure. Fees are lower than the industry average across all account balances assessed. No fees are charged for establishing or terminating an account, switching investments or withdrawals.

A full suite of Death, TPD and Income Protection (IP) insurance is available to all members. Basic Death and TPD cover may be paid for by the member's employer, and members can apply for additional voluntary cover. IP cover with a 2 year payment period may also be provided as a default, and in some cases may be paid for by the member's employer. Additional voluntary IP covers up to 75% of salary, and can be accessed with a 30 or 90 day waiting period.

Members also have access to financial planning services through IFFP and discounted banking products through ME Bank.

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