Best Capital Stable Super Funds Best-Value Insurance in Super
GOLD WINNER FIRST SUPER
A risk-averse approach, coupled with low fees, proves a winning formula
Strong investment performance and low fees have propelled First Super’s Conservative Balanced fund into the winning spot this year.
The $3 billion fund, which has 64,000 members, is the result of the amalgamation in June 2008 of three smaller funds providing services for the furniture and joinery industry, the pulp and paper industry and the timber industry.
First Super has spread the Conservative Balanced assets across 26 fund managers, which include big international investment houses such as BlackRock, Pimco and Capital Group, as well as Australian managers such as IFM Investors, Perpetual, Eley Griffiths and QIC.
The Conservative Balanced fund holds 50% in defensive assets such as cash (22%) and Australian and international fixed interest (28%). The other half is invested in Australian equities (17%), international shares (13%), Australian unlisted property (10%) and local and global infrastructure (10%).
First Super charges members an investment fee of 0.49% (including an indirect cost ratio of 0.03%) with a property operational cost of 0.07%. Members also pay a $78pa admin fee as well as 0.05%pa on the account balance.
Catholic Super’s Moderately Conservative fund, which has low volatility and modest risk of negative returns (two or three every 20 years), comes second this year, down from the top spot last year.