AustralianSuper Review | Performance, features and fees
AustralianSuper has a large range of investment options to choose from, including its award-winning Balanced option and a sustainable option. AustralianSuper products are well-known for their high returns over the long term.
AustralianSuper Conservative Balanced
AustralianSuper Conservative Balanced secured the top spot in the conservative balanced category. The annual fees for this fund amount to $367 on a $50,000 balance. This fund has demonstrated a balanced approach to investment, providing an annual return of 6.74% over the past 10 years and 5.04% over the past 5 years.
AustralianSuper investment options
You can choose any of the following ready-made or sector-specific investment options when joining AustralianSuper. If you don't want to choose you'll be placed in the default Balanced option, which is a top-performing MySuper fund.
2023 Super funds Customer Satisfaction Awards Highly commended:
AustralianSuper took third place in our super fund category this year, with 89% of the users that we surveyed saying they'd recommend the super fund provider to a friend. Its customer satisfaction rating was 4.14 out of 5. Find more about Finder Super Funds Satisfaction Awards 2023.
AustralianSuper Stable took the third spot in the conservative category, with an annual fee of $322 on a $50,000 balance. The fund offers stable and secure returns, with an annual average of 5.10% over the past 10 years and 3.50% over the past 5 years.
AustralianSuper High Growth
AustralianSuper High Growth took the third spot among high growth funds, with an annual fee of $377 on a $50,000 balance. The fund offers high-reward investments and has provided an annual average return of 9.63% over the past 10 years and 7.63% over the past 5 years.
What are the key features of AustralianSuper?
- Wide range of investment options. AustralianSuper offers a broad range of investment options so you can tailor your super in line with your risk tolerance and investing preference.
- Socially responsible investment option. There's a socially responsible pre-mixed, diversified investment option available for members looking for more ethical investments.
- Strong investment performance. AustralianSuper's investment options have regularly outperformed the relevant benchmarks over the past 10 years, and are often among the top-performing funds.
- Mobile app. The AustralianSuper mobile app makes it easy to access your super on the go. You can use the app to check your balance, change the way your super is invested, update your details and more.
- Educational tools. AustralianSuper members can access a variety of seminars and educational programs to help you understand how super works and better manage your investments.
- Financial advice. Members can also access a wealth of online financial advice and planning tools to help you take control of your finances. Fee-for-service financial planning is offered as well.
- Easy fee structure. The fee structure is easy to understand.
AustralianSuper investment options explained
AustralianSuper offers 3 types of investment options for you to choose from: Pre-mixed, DIY Mix and Member Direct. If you don't want to choose an option, your super will be invested in the Balanced investment option which is a MySuper-authorised fund.
Pre-mixed investment options
AustralianSuper Pre-mixed options are diversified portfolios that invest in a mix of different asset classes including shares, property, fixed interest and cash. They're designed for investors who only want a minimal amount of hands-on involvement with their super.
|Pre-mixed investment options||Risk level||Asset allocation|
This option is the highest risk level of all the ready-made options, with around 60% allocation to local and international shares. It's designed for higher growth over the long term and is suited for investors with a longer investment timeframe.
|Balanced (MySuper option)|
This is the default investment option which all members will be placed in if they don't choose a different option after joining. It's designed for growth over the medium to long term. It has around 70% allocation to growth assets including local and international shares, private equity and property. This option is regularly one of the top performing growth super funds in the market.
The Socially Aware option has a very similar level of investment risk to the Balanced option; however, it doesn't invest in Australian or international companies that directly own coal and fossil fuel reserves, produce tobacco or those which have single-gender boards.
This option is designed to achieve growth over the medium to long term while lowering the costs of investing, as it uses index investing instead of active fund management. It has around 70% allocation to growth assets, designed to match index returns. Because it uses index investing the costs of this product are lower for members.
This option has less exposure to growth assets than the Balanced, Socially Aware and High Growth options, but more exposure to growth assets than the Stable option. It's designed to have both medium-term growth while protecting your investment balance.
This option has the lowest risk level of all the ready-made options, with around 61% allocation to defensive assets including cash and bonds. It's designed for investors with a shorter investment timeframe (e.g. if you're closer to retirement) or those with a low risk tolerance.
*Asset allocation between growth and defensive assets correct as of June 2023, and may shift slightly from time to time depending on market conditions and investment decisions.
DIY Mix investment options (single-sector options)
These do-it-yourself options are single asset class portfolios that are managed by AustralianSuper. You decide how much you want to invest in each of the options listed below.
- Australian Shares
- International Shares
- Diversified Fixed Interest
Member Direct investment options
This is AustralianSuper's self-managed investment option. Designed for those who want a high level of control over where their super is invested, Member Direct allows you to invest in:
- The S&P/ASX 300 Index
- Exchange traded funds (ETFs)
- Listed Investment Companies (LICs)
- Term deposits
You can manage your investments from an online platform, and super members need at least $10,000 to open an account. If you're a retirement income member, the minimum account balance is $50,000.
What insurance does AustralianSuper offer?
As part of being a member of AustralianSuper, you can access the following types of insurance cover through your super:
- Income protection cover. This pays a monthly benefit for up to 2 years if you're unable to work due to illness or injury, while you can also apply for extended cover up to the age of 65. You can read more about AustralianSuper income protection in our separate review here.
- Total and permanent disablement cover. This type of cover provides a lump sum payment if you become totally and permanently disabled and can no longer work. You can read more details of this cover here.
- Death cover. This policy provides a lump sum payment when you die, allowing you to provide for your loved ones and help them repay debts.
How do I join AustralianSuper?
If you'd like to join AustralianSuper, click the green "Go to Site" button on this page. You'll be taken to the AustralianSuper website where you can complete an online application in around 15 minutes. You'll need to provide:
- Your personal details, including your name, address, date of birth and contact information
- Your Tax File Number (you do not have to give your super fund your TFN but if your fund doesn't have your TFN it won't be able to accept certain types of contributions from you and your benefit payments may be taxed at a higher rate than would otherwise apply)
- Details of your employer
Once you've completed the application you will immediately receive your member number. A confirmation email will also be sent to you, and your membership application will be processed once you make the first contribution into your account. Your account and any insurance you have chosen will also become active once this first contribution has been received.
A welcome pack, which includes your AustralianSuper online account details, will then be mailed to you.DISCLAIMER: This article may contain general advice. You should consider your own personal circumstances before deciding if a superannuation product is right for you. Superannuation is a long term investment and past performance is not indicative of future performance.
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