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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 adviser or this fund before making an investment decision.

  • Silver
Awards
Fund data valid as of April 30, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $113 $152 -$39
50k $1,130 $614 $516
100k $2,260 $1,133 $1,127

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 (%) 1.53%
Investment Fee 0.73%
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 1996
Target Market All Industries
Offered to Public? Yes
Fund Type Master Trust-Personal

Fund Highlights - provided by MLC MasterKey Superannuation

Fund manager rebates are passed onto the clients.
Rebates apply for large account balances.
Rebalancing of funds happens on an as needed basis, not at set times.
Non-Lapsing Binding death benefit.
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 0.07%
1.43%
9.53%
9.60%
11.47%
12.66%
13.65%
14.73%
0.41%
0.45%
7.21%
8.71%
Fund
Benchmark
High Growth -1.04%
0.30%
12.83%
11.66%
15.42%
15.76%
19.61%
20.40%
-3.02%
-3.15%
8.49%
9.40%
Fund
Benchmark
Conservative Balance 0.05%
1.45%
7.40%
7.28%
8.88%
9.64%
10.40%
11.26%
1.80%
1.87%
6.24%
7.70%
Fund
Benchmark
Growth -0.34%
1.01%
10.93%
10.71%
13.28%
14.01%
16.33%
17.11%
-1.02%
-0.95%
7.74%
9.40%
Fund
Benchmark
Australian Shares 1.00%
1.10%
6.24%
5.70%
12.99%
16.77%
20.64%
21.07%
-8.10%
-6.15%
8.27%
11.00%
Fund
Benchmark
Overseas Shares -3.31%
-3.02%
20.99%
19.16%
16.97%
17.63%
24.44%
26.14%
-0.89%
-2.45%
0.55%
5.86%
Fund
Benchmark
Capital Stable 0.06%
2.09%
5.15%
5.66%
6.39%
7.34%
7.09%
8.29%
3.19%
4.06%
4.78%
6.70%
Fund
Benchmark
Property 14.71%
9.58%
16.78%
10.78%
8.63%
9.09%
19.90%
10.99%
8.19%
7.12%
4.05%
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 Superannuation Super is part of The Universal Super Scheme; however, is no longer available to new investors.

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

Although fees are above the industry average across all account balances assessed, a fee rebate may apply to large account balances. Members are able to switch investment options and make withdrawals at no cost.

MLC MasterKey Superannuation offers Life Cover and Total & Permanent Disablement (TPD) insurance cover; however, premiums are calculated on an individual basis upon application and cannot be shown overleaf. Income Protection insurance is not offered with this product.

A range of additional benefits such as financial planning, discounted health insurance, online access, investor educational materials and regular newsletters are accessible to members.


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