Morningstar second quarter superannuation survey
The top performing superannuation funds.
In this quarter's Morningstar Superannuation Survey, we looked at 348 options (including MySuper and Choice options and excluding Transition to Retirement options) across our superannuation multisector Morningstar Categories. The Superannuation Survey focuses on fund performance, total fees (including investment and administration), and net assets.
Retirement is a long-term game. Who topped the tables over 3 and 5 years as of Sep. 30?
In the superannuation multisector balanced category, Hostplus Conservative Balanced again topped the table over the three-, five-, and ten-year time horizons. West State Super My Super performed well over the five-year and ten-year periods, while CFS Enhanced Index Moderate was in third place over the short-term three-year and five-year periods. 29 out of the 52 options outperformed the Morningstar AUS Balance Target Allocation Net Return AUD
over the three-year period to Sep. 30, 2024.
In the superannuation multisector growth category, CFS Enhanced Index Growth led peers over the one- and three-year timeframes. Brighter Super Balanced was the leader over the five-year period, with HOSTPLUS Indexed Balanced Super rounding out the top three performers over three- and five-year periods.
In the superannuation multisector aggressive category, the CFS Enhanced Index High Growth led peers over three years, followed by MINE High Growth Super and REST Shares Super. Over the five-year and ten-year time horizons, the MLC Aggressive options posted strong performance, as did the UniSuper Sustainable High Growth Super and REST Shares Super options.
Largest options—MySuper options lead the way
Based on reported data, the largest options across the growth category were AustralianSuper Balanced, Rest Growth, Hesta Balanced Growth, and UniSuper Balanced. We are seeking to expand our data collection of monthly funds under management data to enhance insights in this area.
Superannuation Multisector Growth Morningstar Category—Fees
Morningstar uses the total cost ratio (prospective) data point to assess the total fees and costs that are associated with managing and administering an investment product in Australia. This data point includes investment management fees and costs; administration fees and costs; performance fee costs; and total annual dollarbased
charges. It subtracts over-the-counter derivative costs (to the extent these are reported), and it does not include transaction and operational costs.
The most recent average total cost ratio (prospective) for the superannuation multisector growth category came in around 0.78% per annum.
