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Morningstar unveils MySuper winners in December quarter
Morningstar has revealed which MySuper options topped the charts across numerous categories for the December 2022 quarter.
In its superannuation survey, the investment management firm examined 115 MySuper options and over 600 multisector options, focusing on fund performance, total fees and net assets.
The largest MySuper options across multisector categories included AustralianSuper balanced, REST core, HESTA core, Australian Retirement Trust (ART) lifestyle balanced, Aware Super high growth and CBUS growth.
Morningstar’s data reflected the flurry of merger activity in 2022 which led to the creation of mega funds, notably AustralianSuper and ART. The two players were expected to grow their assets under management from around $200 billion in 2021 to $1 trillion by 2040.
The report found that all fund options experienced negative growth in the last 12 months. This was underpinned by a 3% year-on-year decline in the total value of superannuation assets, down from $3.5 trillion to $3.4 trillion.
When looking at MySuper options in the multisector growth category, Care Super, ESSSuper and HESTA took the top three positions over the last 12 months.
AustralianSuper, UniSuper and HESTA were listed as the top three options across five years. The funds recorded total returns of 6.5%, 6.1% and 6% respectively across this period.
ART’s retirement options dominated the Australia superannuation multisector balanced category, with returns of 5.1% across 5 years. The fund recorded $8.6 million in assets under management for its lifestyle retirement option.
In the aggressive category, ART’s balanced and lifestyle balanced options both saw a 6.6% return over the five year period. This was followed by the Hostplus balanced option, which noted a 5.8% return.
Moreover, the average total cost ratio was recorded at around 87 basis points per year for the multisector growth category.
AUTHOR
Jasmine Siljic
Jasmine Siljic is a cadet journalist at Money Management and Super Review. Prior to joining MM and SR, she also worked across other Momentum Media brands as an intern. Jasmine previously completed an internship at Mamamia news. She is currently studying a Bachelor of Media and Communications at Macquarie University.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
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