The June 2024 Superannuation Survey, conducted by Morningstar, provides insights into the performance, fees, and net assets of 364 superannuation options in Australia. This report covers both MySuper and Choice options, excluding Transition to Retirement options. The survey captures a wide range of funds across various categories, highlighting the best-performing funds, while also addressing the importance of tailored professional advice for individual financial goals.
1. Balanced Category:
2. Growth Category:
3. Aggressive Category:
The survey identified the largest options in the growth category, which included:
These options demonstrate substantial assets under management and continue to play a significant role in the superannuation landscape, particularly for members seeking balanced growth.
The report also highlights the importance of understanding total fees associated with superannuation products. Morningstar uses a Total Cost Ratio (prospective) to assess fees, which includes:
For the superannuation multisector growth category, the average total cost ratio was around 0.78%. Investors are encouraged to carefully examine these costs, as fees are a constant factor that can erode returns over time.
While the survey presents a range of high-performing funds across multiple categories, it is crucial to remember that these results pertain to portfolios managed by specific fund managers on particular platforms. While these options may offer competitive returns, they may not necessarily be the best fit for every individual. Financial objectives, risk tolerance, and personal circumstances vary significantly, and the potential for better returns may exist elsewhere.
Given the complexity and diversity of superannuation options, it is always advisable to consult with a professional financial advisor. An advisor can provide tailored advice, help you understand your risk profile, and craft a strategy that aligns with your unique financial goals. They can also identify opportunities beyond the current scope of fund platforms, potentially unlocking greater returns and financial security for your future.
The June 2024 Superannuation Survey underscores the dynamic nature of the superannuation landscape in Australia. While certain funds have shown strong historical performance, the future remains unpredictable, and past performance is not always indicative of future results. A diversified approach, informed by professional advice, remains the best strategy to navigate the complexities of superannuation and secure your financial future.
Read more and download the full report by following the link HERE
The information provided on and made available through this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs – it may not be appropriate to your situation. Before acting on this information, you should consider it’s appropriateness to your personal situation. The information provided is not intended as, nor is it a substitute for, personal or institutional financial services advice.
We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Before acquiring any financial product, you should obtain the relevant Product Disclosure Statement (PDS) for any product mentioned and consider its contents before making any decision. Past performance of any product discussed on this website is not indicative of future performance. We do not warrant that any future forecasts are guaranteed to occur.