StatewideSuper MySuperInformation shown is for the growth 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 ($)||$78|
|Administration Fee (%)||0.06%|
|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 StatewideSuper MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2015||FY 2014||FY 2013||FY 2012||FY 2011||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 30/06/2015, 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.
Percentage of Growth Assets
What the researchers say
StatewideSuper was initially established in 1986 for the benefit of South Australian workers; however, it is now open to the public. Environmental, Social and Governance considerations are an integral part of the Fund's framework and StatewideSuper was issued an Infinity Recognised award for the fifth time in 2015, for demonstrating excellent environmental and socially responsible principles.
The Fund's MySuper offering comprises a single diversified investment option, MySuper. The MySuper option outperformed the SuperRatings Index over the 12 months to 30 June 2015; however long term investment performance history is unavailable as this is a new option from 1 July 2013.
StatewideSuper's choice members also have access to both Diversified and Single Sector options.
Fees are competitive and lower than the industry average across all account balances assessed. Members are entitled to one free investment switch per year, while no exit fee is charged.
Members are automatically provided with 4 units of Income Protection (IP) and 4 units of Standard Death and TPD Insurance upon joining the Fund, with additional cover also available. The Fund's non-standard IP waiting period of 45 days prevents the premiums from being displayed overleaf.
A great range of additional benefits are provided to members including discounted financial planning services, comprehensive banking products through ME Bank, discounted health insurance, as well as special offers through the StatewideSuper Advantage Program.