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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.

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  • Gold
Awards
Fund data valid as of May 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $193 $157 $36
50k $630 $634 -$4
100k $1,260 $1,169 $91

Investment Allocation

Intl shares 23.0%
Aus shares 31.0%
Property 4.0%
Alternative 6.0%
Fixed interest 29.0%
Other 7.0%

Fees & Charges

Administration Fee ($) $0
Administration Fee (%) 0.40%
Investment Fee 0.86%
Switching Fee $0
Exit Fee $0
Account Size Discount Yes
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 633,685
Total Assets $13,409,406,127
Year Started 2006
Target Market All Industries
Offered to Public? Yes
Fund Type Master Trust-Personal

Fund Highlights - provided by MLC MasterKey Super Fundamentals

Fund manager rebates are passed onto the clients.
No commission paid to advisers.
Rebates apply to large account balances.
Rebalancing of funds happens on a need basis, not set times.
Non - Lapsing Binding death benefits.
Income Protection benefit within super paid to age 65.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 3.47%
3.68%
10.50%
9.60%
12.45%
12.66%
14.66%
14.73%
1.13%
0.45%
7.89%
8.71%
Fund
Benchmark
High Growth 3.41%
3.45%
16.02%
11.66%
20.80%
15.76%
28.61%
20.40%
-5.49%
-3.15%
10.67%
9.40%
Fund
Benchmark
Conservative Balance 2.89%
3.36%
8.34%
7.28%
9.83%
9.64%
11.35%
11.26%
2.51%
1.87%
6.91%
7.70%
Fund
Benchmark
Diversified Fixed Interest 1.51%
3.55%
1.96%
3.93%
2.98%
5.52%
3.03%
4.65%
4.52%
8.94%
3.86%
5.65%
Fund
Benchmark
Growth 3.43%
3.64%
11.89%
10.71%
14.26%
14.01%
17.34%
17.11%
-0.32%
-0.95%
8.43%
9.40%
Fund
Benchmark
Australian Shares 5.80%
4.38%
7.20%
5.70%
14.00%
16.77%
21.73%
21.07%
-7.42%
-6.15%
8.99%
11.00%
Fund
Benchmark
Overseas Shares 3.81%
1.37%
22.14%
19.16%
17.96%
17.63%
25.57%
26.14%
-0.18%
-2.45%
1.13%
5.86%
Fund
Benchmark
Capital Stable 2.23%
3.24%
6.01%
5.66%
7.26%
7.34%
7.97%
8.29%
3.90%
4.06%
5.42%
6.70%
Fund
Benchmark
Property 19.12%
10.46%
17.92%
10.78%
9.69%
9.09%
21.14%
10.99%
9.04%
7.12%
4.73%
8.00%
Fund
Benchmark
  • 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

MLC Masterkey Super Fundamentals was established in 2006 and is designed specifically for investors seeking a flexible savings plan, in a tax-effective environment with access to a pension at retirement.

Members have access to a comprehensive investment menu, comprising of both Diversified and Single Sector options, as well as managed investments across a range of asset classes. A range of term deposits are also available. The MLC Horizon 4 - Balanced Portfolio has outperformed the SuperRatings Index over the long term.

Although fees are above the market average and a dollar based fee is charged on account balances below $50,000, a reduced administration fee on account balances over $200,000 applies, with the administration fee capped at $2,500. Members are able to switch investment options and make withdrawals at no cost.

Members have access to a full suite of insurance cover which is available through MLC Insurance (Super), including Life cover, Total & Permanent Disablement (TPD) cover and Income Protection. Premiums are tailored on an individual basis so we are therefore unable to provide an accurate assessment at this time.

Members are offered to a range of deals on financial and lifestyle products through MLC Member Rewards, while online access, investor educational materials and regular newsletters are also accessible to members.