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What the Researchers Say:

A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.

You should contact your financial adviser or this fund before making an investment decision.

  • MySuper Platinum
  • Infinity Recognised
Awards
Fund data valid as of March 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $117 $155 -$38
50k $463 $628 -$165
100k $848 $1,158 -$310

Investment Allocation

Intl shares 38.5%
Aus shares 19.0%
Property 4.0%
Alternative 12.0%
Fixed interest 14.5%
Cash 1.0%
Other 11.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.33%
Investment Fee 0.44%
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 242,985
Total Assets $15,598,729,000
Year Started 2013
Target Market All Industries
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by VicSuper Growth (MySuper)

Daily unit pricing & investment switching
Diversified MySuper Growth investment option
Responsible investments
No commissions. Advice to members usually at no extra cost

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced -1.41%
-0.06%
11.12%
9.60%
15.84%
12.66%
15.42%
14.73%
-0.37%
0.45%
11.76%
8.71%
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

VicSuper was established in 1994 to administer the superannuation benefits of Victorian Government employees. VicSuper received an Infinity Recognised award in 2009, 2014 and 2015 for upholding a corporate governance framework which takes into account economic, social and environmental factors. VicSuper is a finalist of the 2016 Choice Super of the Year Award.

The Growth (MySuper) Option is a re-badged version of VicSuper's existing default Growth investment option. The Growth (MySuper) Option actively invests in a range of diversified assets, including shares, infrastructure, property, fixed interest and cash. The Growth Option has exhibited top quartile performance over the last 5 years, outperforming the SuperRatings Index. Choice members can also access a full investment menu of eight investment options and Term Deposits.

Fees associated with this product are rated as good across all assessed account balances. The Asset Administration Fee and Member Fee are collectively capped at $125 per month (5 basis points are included in the Admin Fee as an 'Operational Risk Reserve Cost'). No Switching Fee or Exit Fee are charged, and commissions are not paid to financial advisers.

Growth (MySuper) members automatically receive six units of Death/TPD cover and Income Protection cover, with a 90-day waiting period and benefit period up to 2 years. Members may also apply for an unlimited amount of Death only cover, and up to $5 million worth of Death/TPD cover, upon supplying satisfactory health evidence. Members may cancel or reduce insurance cover at any time by completing an Insurance Request form.

VicSuper offers a variety of extra benefits including free superannuation advice, educational seminars held around Melbourne and regional Victoria, online account access and discounted home loans.


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