INVESTING

UniSuper MySuper

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About the fund

UniSuper is Australia's fifth largest superannuation fund and one of the most innovative and consistently strong performers. But we'd expect nothing less from a fund serving Australia's higher education and research community. While UniSuper is not "public offer" it has 385,000 members around Australia and looks after their $52 billion in savings, spanning workplace accumulation plans, retirement plans and traditional defined benefit divisions for the 20% of long-time members lucky enough to still have their super set up this way.

Part of what makes UniSuper effective is its board of 11 directors, three of whom are independent and eight of whom have been carefully selected to ensure all member groups, such as university general staff, academic and research professionals and the sponsoring universities, are fairly represented. UniSuper's default MySuper portfolio, which reflecting UniSuper's diverse structure makes up just one quarter of the overall fund, is 59% invested into equities, 30% into bonds and 11% into property and infrastructure.

UniSuper

What it offers

You can join UniSuper if you work in Australia's fast-growing higher education and research sector and many people who do this choose UniSuper's balanced option as their MySuper default fund. For members wanting more choices there are another 15 investment options, including five more diversified options and 10 asset class options. Three environmental and sustainable investment options are also available for members who want their super savings managed this way.

UniSuper doesn't offer life-stage investments or a member-direct option that lets members invest directly into shares but it does provide highly tailored financial advice online, over the phone and in dedicated purpose-built facilities. UniSuper members are able to buy discounted life, TPD and income protection insurance with cover ranging up to $3 million.

Independent commentary

UniSuper's MySuper option has beaten the market benchmark in nine of the past 10 financial years and is on track to beat the SelectingSuper performance benchmark again this financial year, resulting in its 10-year return being the 7th best across the industry. A member who invested $10,000 in their account 10 years ago would have had $20,000 when they opened their last annual statement, compared with the $18,116 for someone who invested in an average fund. This consistency, combined with low fees and a large range of choices, is why UniSuper is one of Australia's best super funds and a regular category winner at the annual SelectingSuper fund of the year awards.

Key fund data:

Size: $52 billion 385,000 members Selecting Super rating: AAA Fees: 0.7% in the MySuper option 5 year performance: 8.20% pa as at Feb 2016 after fees Investment choices: 16 Insurance choices: 12

UniSuper

Alex Dunnin, Executive Director of Research and Compliance, Rainmaker group

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Alex Dunnin is director of research at Rainmaker Information, publisher of Money magazine, Financial Standard and Selecting Super.
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