Canstar reveals the ten largest Australian tremendous funds by each membership dimension and belongings beneath administration.
Australia’s superannuation system is among the world’s largest pension schemes. The tremendous trade now has $2.9 trillion in belongings beneath administration as of September 2020. There are additionally at present over 100 totally different trade, retail, company and public sector tremendous funds. So which of them are the largest?
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The rankings under are based mostly on the Australian Prudential Regulation Authority’s (APRA) Annual Fund-level Superannuation Statistics, launched in December 2020.
10 largest tremendous funds – by members
Under are the ten tremendous funds with probably the most members based mostly on APRA’s information. It’s value noting {that a} single member can have accounts with a number of totally different tremendous funds.
| Rank | Tremendous fund | Whole variety of member accounts |
|---|---|---|
| 1 | AustralianSuper | 2,368,825 |
| 2 | Retail Workers Superannuation Belief (Relaxation) | 1,844,858 |
| 3 | Sunsuper | 1,522,983 |
| 4 | HOSTPLUS | 1,301,670 |
| 5 | MLC Tremendous Fund | 1,120,687 |
| 6 | Conscious Tremendous | 1,077,326 |
| 7 | Retirement Wrap | 915,722 |
| 8 | Tremendous Instructions Fund | 900,645 |
| 9 | Well being Workers Superannuation Belief Australia (HESTA) | 890,949 |
| 10 | Retirement Portfolio Service | 847,896 |
| Supply: APRA, printed December 2020 (present as at 30 June 2020). | ||
In whole, these 10 tremendous funds had over 12.7 million member accounts on the finish of June final 12 months.
High Performing Tremendous Funds
10 largest tremendous funds – by belongings
The desk under reveals the ten tremendous funds with the best whole worth of belongings beneath administration. That’s, the worth of the investments {that a} tremendous fund manages on behalf of its members.
| Rank | Tremendous fund | Whole belongings ($ billions) |
|---|---|---|
| 1 | AustralianSuper | 191.42 |
| 2 | Conscious Tremendous | 126.45 |
| 3 | QSuper | 120.31 |
| 4 | Public Sector Superannuation Scheme | 87.29 |
| 5 | Unisuper | 85.49 |
| 6 | Colonial First State First Alternative Superannuation | 77.26 |
| 7 | MLC Tremendous Fund | 74.78 |
| 8 | Sunsuper Superannuation Fund | 74.64 |
| 9 | Retirement Wrap | 70.96 |
| 10 | CSS Fund | 63.03 |
| Supply: APRA, printed December 2020 (present as at 30 June 2020). Figures proven within the desk are rounded to 2 decimal locations. | ||
These high 10 tremendous funds account for greater than $971 billion – near $1 trillion – in belongings beneath administration.
Is dimension every part?
An excellent fund with extra members or extra belongings beneath administration isn’t essentially a ‘higher’ fund. When you find yourself selecting an excellent fund, you also needs to fastidiously think about components comparable to:
- Funding efficiency: it could possibly be a good suggestion to think about a fund’s long-term monitor report of efficiency and whether or not it has a historical past of delivering excessive returns. Nonetheless, do not forget that investments can go up and down over time, so previous efficiency shouldn’t be relied upon to guage a fund’s future efficiency.
- Charges: excessive charges can eat away at your retirement stability. It may be a good suggestion to match the tremendous charges you’re charged with different funds to grasp whether or not you could be paying greater than you can be.
- Funding choices: attempt to discover a tremendous fund that gives funding choices suited to your private circumstances and danger urge for food.
- Insurance coverage: if you happen to’d wish to take out life insurance coverage by means of your tremendous, search for a fund that gives cowl that fits your wants and take a look at the premiums charged.
You’ll be able to examine a variety of tremendous funds with Canstar. You may also wish to see our newest Superannuation Star Rankings to see which merchandise obtained 5 Stars.
The comparability desk under shows a few of the merchandise at present out there on Canstar’s database for Australians aged 30-39 with a stability of as much as $55,000, sorted by Star Ranking (highest to lowest), adopted by firm title (alphabetical). Use Canstar’s superannuation comparability selector to view a wider vary of tremendous funds.
Price, efficiency and asset allocation data proven within the desk above have been decided in accordance with the funding profile within the Canstar Superannuation Star Rankings methodology that matches the age group specified above.
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This text was initially written by William Jolly. It was reviewed by our Sub Editor Tom Letts and Finance & Life-style Editor Shay Waraker earlier than it was up to date, as a part of our fact-checking course of.
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