Rainmaker MySuper Report

Transcription

1 September 2017 edition CONTENTS Highlights.. 1 MySuper Benchmarks.. 2 Performance - Single strategy... 3 Performance - Lifecycle Strategy Asset allocation Highlights Total assets in MySuper amounted to $610 billion at the end of September 2017, having grown by 24% during the 12 month period. Overall superannuation assets totalled $2.5 trillion at the end of September 2017 quarter with an annual growth of 8.7%. Retail MySuper products are the fastest growing MySuper segment, growing more than 4-times faster being 80% over the period comred to not-for-profit (NFP) MySuper that grew 16%. For Retail Mysuper assets, 63% are held within bank owned funds. However only 29% of Retail MySuper products are offered through the banks. In the NFP sector, 71% of assets are held by top 10 products whereas in the Retail sector this share jumps to 82%. Lifecycle investment strategy products now represent 35% of total MySuper assets although they account to 26% of total Mysuper products as opposed to Single diversified investment strategy holding 65% of assets and 74% of products (see fig). The average annual net investment return to September 2017 for single investment strategy MySuper products was 8.1%. For lifecycle products the comrative average was 8.6%, noting this varied by age cohort. MySuper single investment strategy products held an average 71% of their FUM in growth assets. The average FUM held in growth assets by lifecycle investment strategy products varied by age cohorts between 41% to 86%. MySuper : Assets ($b) MySuper: No of products Lifecycle Single Strategy Lifecycle Single Strategy Retail NFP - Retail NFP This report is based solely on data released by APRA which Rainmaker has then analysed and value-added. Rainmaker Information Pty Ltd 1

2 MySuper Benchmarks September 2017 Performance to 30 September 2017 FYTD 3 Yrs MySuper Index 1.3% 1.3% 7.9% 7.0% Single Strategy Single Strategy Index 1.3% 1.3% 8.1% 7.0% By Risk Very high 0.6% 0.6% 6.6% 6.6% High 1.3% 1.3% 7.0% 7.0% Medium to high 1.4% 1.4% 7.4% 7.4% Medium 1.1% 1.1% 7.0% 7.0% By Segment NFP 1.5% 1.5% 7.4% 7.4% Retail 0.8% 0.8% 6.2% 6.2% Lifecycle Strategy Lifecycle Strategy (40 yr old) 1.4% 1.4% 8.6% 7.2% By Risk Very high 1.3% 1.3% 6.7% High 1.4% 1.4% 8.5% 7.2% Medium to igh 1.2% 1.2% 7.0% 6.5% Medium 0.9% 0.9% 5.4% 5.6% By Lifestage Under 40 yrs 1.5% 1.5% 9.2% 7.5% 40 to 49 yrs 1.4% 1.4% 6.7% 7.2% 50 to 59 yrs 1.1% 1.1% 4.9% 6.1% 60 or above yrs 0.8% 0.8% 4.5% 4.7% By Segment NFP 1.4% 1.4% 8.6% 7.3% Retail 1.2% 1.2% 6.5% 6.2% Rainmaker Information Pty Ltd 2

3 MySuper Single Strategy Top 50 Performers September 2017 Returns for MySuper funds with a single investment strategy, excluding large employer sponsored funds. APRA investment risk labels are based on the calculated potential frequency of negative annual returns over 20yrs. Investment returns are net of all fees. Investments ($m) APRA invest Risk Label HOSTPLUS 22,119 Industry High 1.9% % 1 9.4% 1 MTAA Superannuation Fund 9,178 Industry Medium to high 1.6% % % 2 StatewideSuper MySuper 4,543 Industry High 2.2% 4 9.9% % 3 AustralianSuper MySuper 84,157 Industry High 1.8% % 4 9.0% 4 Cbus MySuper 35,578 Industry Medium to high 1.9% % % 5 First Super MySuper 2,399 Industry Medium 1.5% % % 6 UniSuper 15,910 Industry High 1.4% % % 7 CareSuper 10,021 Industry Medium to high 1.9% 9 9.7% % 8 Prime Super 3,125 Industry Medium to high 1.4% % 5 8.5% 9 MyCatholicSuper 4,919 Industry Medium to high 0.4% % % 10 Energy Super 1,972 Industry Medium to high 1.6% % % 11 BUSSQ MySuper 3,280 Industry Medium 0.8% % % 12 Intrust MySuper 1,725 Industry Medium to high 1.5% % % 13 Club Plus Super MySuper 2,200 Industry High 2.3% % 2 8.1% 14 Mercy Super 871 Corporate Medium 1.5% % 7 7.9% 15 Austsafe Super 1,989 Industry Medium to high 2.6% % 8 7.9% 16 Rei Super 1,167 Industry Medium to high 1.3% % % 17 HESTA 33,683 Industry Medium to high 1.8% % % 18 legalsuper 1,690 Industry High 1.6% % % 19 AMIST MySuper 1,902 Industry Medium to high 1.9% % % 20 Media Super 3,626 Industry Medium to high 1.9% 8 9.8% % 21 Nationwide Super 549 Industry Medium to high 1.2% % % 22 TWU Superannuation Fund 4,520 Industry Medium to high 1.5% % 6 7.7% 23 Vision MySuper 3,619 Public Medium to high 1.9% % % 24 Victorian Superannuation Fund 10,902 Public Medium to high 1.8% % 9 7.6% 25 Equipsuper MySuper 2,316 Industry Medium 1.4% % % 26 AvSuper Growth (MySuper) 666 Public Medium to high 1.7% % % 27 Kinetic Superannuation Fund 3,075 Industry High 1.5% % 3 7.4% 28 PSS Acc Plan MySuper 9,456 Public Medium to high 2.1% 6 8.6% % 29 NGS Super 5,320 Industry Medium to high 1.5% % % 30 QIEC MySuper 1,125 Industry High 1.8% % % 31 MIESF MySuper 733 Industry Medium 0.6% % % 32 REST Super 41,578 Industry Medium to high 1.7% % % 33 Club MySuper 443 Industry Medium to high 1.5% % % 34 IOOF MySuper 2,850 Retail Medium to high 1.0% % % 35 BOC MySuper 418 Corporate High 1.5% % % 36 GS & JBWere MySuper Product 374 Corporate Very high 0.2% % % 37 NESS MySuper 589 Industry Medium to high 1.7% % % 38 IAG & NRMA Superannuation Plan 1,376 Corporate High 1.0% % % 39 VISSF MySuper 407 Industry High 1.6% % % 40 EMPLUS MYSUPER 117 Retail Medium to high 1.3% % % 41 Labour Union Co-Op Retirement Fund 4,497 Industry High 1.7% % % 42 ANZ Staff MySuper 2,234 Corporate High 0.8% % % 43 AMP Retirement Trust 804 Retail High 1.3% % % 44 Combined Fund MySuper 367 Industry Medium to high 0.7% % % 45 WA Local Government Super 1,062 Public High 1.0% % % 46 Commonwealth Bank Group Super 5,297 Corporate High 1.5% % % 47 MLC Fund MySuper 24,779 Retail Medium to high 1.4% % % 48 Russell Investments Master Trust 2,395 Retail Medium to high 0.7% % % 49 Lutheran Super 249 Corporate Medium to high 1.1% % % 50 Average - arithmetic 1.4% 8.5% 7.3% Average - asset weighted 1.7% 9.4% 8.1% Note: MySuper funds with assets less than $100m are excluded from the above table Industry 1.5% 9.0% 7.7% Corporate 1.1% 8.1% 6.9% Public 1.6% 8.4% 6.9% Retail 1.1% 6.7% 6.2% Very high 0.2% 6.1% 7.0% High 1.5% 8.5% 7.2% Medium to high 1.4% 8.8% 7.4% Medium 1.2% 8.1% 7.3% 3 Rainmaker Information Pty Ltd

4 September 2017 Lifecycle MySuper Products in Age Cohort Returns for MySuper lifecycle products, excluding large employer sponsored lifecycle products. Allocation of individual life stages to age cohorts based on product information and Rainmaker research. Investment returns are net of all fees. Growth Assets Age cohort: years QSuper Lifetime Public 53% 1.7% % % 1 LGS MySuper Age-based Investment Public 96% 2.1% % 1 9.1% 2 Sunsuper for Life Industry 76% 1.9% % 2 8.4% 3 Aon MySuper Retail 100% 1.8% % 5 8.4% 4 Guild Retirement Fund MySuper Retail 88% 1.4% % 8 8.1% 5 AMP MySuper No.2 Retail 91% 1.7% % 7 8.0% 6 Suncorp Lifestage Funds Retail 79% 0.7% % % 7 ANZ Smart Choice Super Retail 88% 1.9% 5 9.3% % 8 Super Directions MySuper Retail 91% 0.0% % % 9 First State Super MySuper Public 80% 2.1% % 4 7.7% 10 Telstra Super MySuper Corporate 85% 1.6% % 3 7.6% 11 Colonial First State FirstChoice Retail 84% 2.2% % 6 7.6% 12 Mine Wealth and Wellbeing Super Industry 99% 1.4% % % 13 Commonwealth Essential Super Retail 73% 1.3% % % 14 BT Business MySuper Retail 95% 1.9% 6 9.9% 9 7.2% 15 LGIA Super MySuper Lifecycle Public 80% 1.0% % % 16 Virgin Money MySuper Retail 83% 1.5% % % 17 Mercer SmartPath Retail 80% 1.5% % % 18 Bendigo MySuper Retail 80% 1.1% % % 19 BT Super for Life MySuper Retail 95% 1.8% 8 9.2% % 20 Asgard Employee MySuper Retail 95% 1.8% 7 9.0% % 21 Maximum 100% 2.2% 11.8% 9.4% Average 86% 1.5% 9.2% 7.5% Minimum 53% 0.0% 6.0% 5.2% Benchmark Asset Allocation for yrs Range Average 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Equities Property Infra Fixed Income Cash Other Rainmaker Information Pty Ltd 4

5 September 2017 Lifecycle MySuper Products in Age Cohort Returns for MySuper lifecycle products, excluding large employer sponsored lifecycle products. Allocation of individual life stages to age cohorts based on product information and Rainmaker research. Investment returns are net of all fees. Growth Assets Age cohort: 40 to 49 years QSuper Lifetime Public 48% 1.3% % % 1 Sunsuper for Life Industry 76% 1.9% % 1 8.4% 2 LGS MySuper Age-based Investment Public 80% 1.6% 9 9.3% 8 7.8% 3 AMP MySuper No.2 Retail 88% 1.7% 8 9.5% 6 7.8% 4 First State Super MySuper Public 80% 2.1% % 3 7.7% 5 Telstra Super MySuper Corporate 85% 1.6% % 2 7.6% 6 Colonial First State FirstChoice Retail 84% 2.1% % 4 7.6% 7 ANZ Smart Choice Super Retail 80% 1.7% 7 8.4% % 8 Super Directions MySuper Retail 88% 0.0% % % 9 Aon MySuper Retail 84% 1.5% % % 10 Suncorp Lifestage Funds Retail 69% 0.7% % % 11 BT Business MySuper Retail 95% 1.9% 4 9.9% 5 7.3% 12 Commonwealth Essential Super Retail 73% 1.3% % % 13 LGIA Super MySuper Lifecycle Public 80% 1.0% % % 14 Mercer SmartPath Retail 80% 1.4% % % 15 Mine Wealth and Wellbeing Super Industry 99% 1.2% % % 16 Bendigo MySuper Retail 80% 1.1% % % 17 Guild Retirement Fund MySuper Retail 68% 1.1% % % 18 Virgin Money MySuper Retail 83% 1.5% % % 19 BT Super for Life MySuper Retail 95% 1.8% 5 9.2% 9 6.3% 20 Asgard Employee MySuper Retail 95% 1.8% 6 9.0% % 21 Maximum 99% 2.1% 11.0% 8.8% Average 82% 1.4% 8.6% 7.2% Minimum 48% 0.0% 5.2% 5.2% Benchmark Asset Allocation for yrs 90% Range Average 80% 70% 60% 50% 40% 30% 20% 10% 0% Equities Property Infra Fixed Income Cash Other Rainmaker Information Pty Ltd 5

6 September 2017 Lifecycle MySuper Products in Age Cohort Returns for MySuper lifecycle products, excluding large employer sponsored lifecycle products. Allocation of individual life stages to age cohorts based on product information and Rainmaker research. Investment returns are net of all fees. Growth Assets Age cohort: 50 to 59 years Sunsuper for Life Industry 70% 1.8% % 2 7.7% 1 First State Super MySuper Public 80% 2.1% % 1 7.7% 2 QSuper Lifetime Public 37% 0.8% % % 3 Colonial First State FirstChoice Retail 73% 1.8% 3 8.8% 5 7.1% 4 LGIA Super MySuper Lifecycle Public 80% 1.0% % 3 7.1% 5 Telstra Super MySuper Corporate 72% 1.3% 4 8.9% 4 6.9% 6 ANZ Smart Choice Super Retail 65% 1.3% 4 6.6% % 7 Commonwealth Essential Super Retail 57% 1.0% % % 8 Mercer SmartPath Retail 69% 1.3% 6 7.2% 7 6.2% 9 LGS MySuper Age-based Investment Public 65% 1.3% 7 6.7% 9 6.1% 10 AMP MySuper No.2 Retail 68% 1.1% % 8 5.9% 11 Suncorp Lifestage Funds Retail 53% 0.5% % % 12 BT Business MySuper Retail 66% 1.3% 7 6.4% % 13 Super Directions MySuper Retail 68% -0.1% % % 14 Virgin Money MySuper Retail 72% 1.2% 9 6.4% % 15 Bendigo MySuper Retail 60% 0.8% % % 16 Mine Wealth and Wellbeing Super Industry 94% 1.0% % % 17 Aon MySuper Retail 50% 1.0% % % 18 Guild Retirement Fund MySuper Retail 45% 0.7% % % 19 BT Super for Life MySuper Retail 66% 1.2% % % 20 Asgard Employee MySuper Retail 66% 1.2% % % 21 Maximum 94% 2.1% 10.5% 7.7% Average 66% 1.1% 6.7% 6.1% Minimum 37% -0.1% 3.7% 4.1% Benchmark Asset Allocation for yrs 80% 70% Range Average 60% 50% 40% 30% 20% 10% 0% Equities Property Infra Fixed Income Cash Other Rainmaker Information Pty Ltd 6

7 September 2017 Lifecycle MySuper Products in Age Cohort Returns for MySuper lifecycle products, excluding large employer sponsored lifecycle products. Allocation of individual life stages to age cohorts based on product information and Rainmaker research. Investment returns are net of all fees. Growth Assets Age cohort: years LGIA Super MySuper Lifecycle Public 80% 1.0% 6 8.9% 1 7.1% 1 Telstra Super MySuper Corporate 72% 1.3% 3 8.9% 2 6.9% 2 Sunsuper for Life Industry 58% 1.5% 2 8.4% 3 6.5% 3 First State Super MySuper Public 65% 1.6% 1 7.9% 4 6.5% 4 ANZ Smart Choice Super Retail 46% 0.8% % % 5 Mine Wealth and Wellbeing Super Industry 94% 1.0% 5 5.7% 7 5.4% 6 Mercer SmartPath Retail 55% 1.0% 4 5.7% 6 5.2% 7 Guild Retirement Fund MySuper Retail 45% 0.7% % 8 5.1% 8 Colonial First State FirstChoice Retail 39% 0.8% % % 9 Virgin Money MySuper Retail 57% 0.9% % 9 5.0% 10 LGS MySuper Age-based Investment Public 48% 0.9% 7 4.4% % 11 QSuper Lifetime Public 21% 0.9% % % 12 Suncorp Lifestage Funds Retail 40% 0.4% % % 13 Commonwealth Essential Super Retail 36% 0.7% % % 14 AMP MySuper No.2 Retail 53% 0.7% % % 15 Bendigo MySuper Retail 40% 0.6% % % 16 Super Directions MySuper Retail 53% -0.2% % % 17 BT Business MySuper Retail 37% 0.7% % % 18 BT Super for Life MySuper Retail 37% 0.6% % % 19 Aon MySuper Retail 20% 0.5% % % 20 Asgard Employee MySuper Retail 37% 0.7% % % 21 Maximum 94% 1.6% 8.9% 7.1% Average 49% 0.8% 4.9% 5.0% Minimum 20% -0.2% 1.7% 3.1% Benchmark Asset Allocation for yrs 70% 60% Range Average 50% 40% 30% 20% 10% 0% Equities Property Infra Fixed Income Cash Other Rainmaker Information Pty Ltd 7

8 MySuper Benchmark Asset Allocation Largest 50 Single Strategy Products September 2017 Benchmark asset allocations for MySuper products with a single investment strategy, excluding large employer sponsored funds. Note that equities asset category includes both listed and unlisted equities while other includes commodities. APRA investment risk labels are based on the calculated potential frequency of negative annual returns over 20 years. $M APRA Invest Risk Label Equities Property Infra Fixed Income Cash Other 1 AustralianSuper MySuper 84,157 Industry High 62% 7% 13% 8% 10% 0% 2 REST Super 41,578 Industry Medium to high 40% 9% 8% 6% 8% 29% 3 Cbus MySuper 35,578 Industry Medium to high 50% 13% 11% 18% 3% 5% 4 HESTA 33,683 Industry Medium to high 59% 12% 13% 15% 2% 0% 5 MLC Fund MySuper 24,779 Retail Medium to high 58% 5% 2% 25% 5% 5% 6 HOSTPLUS 22,119 Industry High 59% 13% 12% 2% 0% 14% 7 UniSuper 15,910 Industry High 66% 3% 4% 19% 8% 0% 8 Victorian Superannuation Fund 10,902 Public Medium to high 61% 5% 7% 20% 7% 0% 9 CareSuper 10,021 Industry Medium to high 52% 12% 7% 15% 5% 9% 10 PSS Acc Plan MySuper 9,456 Public Medium to high 46% 10% 1% 13% 15% 15% 11 MTAA Superannuation Fund 9,178 Industry Medium to high 51% 9% 15% 11% 9% 5% 12 NGS Super 5,320 Industry Medium to high 50% 10% 10% 15% 3% 12% 13 Commonwealth Bank Group Super 5,297 Corporate High 30% 9% 9% 15% 2% 35% 14 MyCatholicSuper 4,919 Industry Medium to high 57% 8% 6% 13% 3% 13% 15 Australian Catholic Super 4,706 Industry High 44% 11% 11% 9% 3% 22% 16 StatewideSuper MySuper 4,543 Industry High 60% 10% 10% 14% 6% 0% 17 TWU Superannuation Fund 4,520 Industry Medium to high 58% 9% 8% 15% 4% 6% 18 Labour Union Co-Op Retirement Fund 4,497 Industry High 56% 10% 5% 13% 4% 12% 19 Media Super 3,626 Industry Medium to high 52% 10% 11% 16% 3% 8% 20 Vision MySuper 3,619 Public Medium to high 53% 11% 11% 17% 3% 5% 21 BUSSQ MySuper 3,280 Industry Medium 56% 12% 12% 10% 2% 8% 22 Prime Super 3,125 Industry Medium to high 51% 7% 13% 20% 10% 0% 23 Kinetic Superannuation Fund 3,075 Industry High 55% 13% 8% 24% 0% 0% 24 IOOF MySuper 2,850 Retail Medium to high 55% 10% 0% 25% 5% 5% 25 First Super MySuper 2,399 Industry Medium 45% 10% 10% 29% 4% 2% 26 Russell Investments Master Trust 2,395 Retail Medium to high 58% 3% 8% 25% 3% 3% 27 Equipsuper MySuper 2,316 Industry Medium 45% 10% 3% 33% 5% 4% 28 ANZ Staff MySuper 2,234 Corporate High 55% 11% 6% 14% 3% 11% 29 Club Plus Super MySuper 2,200 Industry High 50% 11% 6% 12% 5% 16% 30 Austsafe Super 1,989 Industry Medium to high 53% 10% 9% 13% 5% 10% 31 Energy Super 1,972 Industry Medium to high 57% 10% 8% 10% 5% 10% 32 AMIST MySuper 1,902 Industry Medium to high 50% 15% 5% 20% 5% 5% 33 Intrust MySuper 1,725 Industry Medium to high 55% 10% 0% 15% 2% 18% 34 legalsuper 1,690 Industry High 54% 12% 0% 18% 2% 14% 35 IAG & NRMA Superannuation Plan 1,376 Corporate High 50% 7% 3% 15% 5% 20% 36 Energy Industries Super MySuper 1,275 Public Medium 36% 5% 4% 20% 10% 25% 37 Rei Super 1,167 Industry Medium to high 51% 14% 4% 19% 5% 7% 38 QIEC MySuper 1,125 Industry High 55% 12% 12% 11% 3% 7% 39 The Executive Superannuation Fund 1,107 Retail High 56% 2% 2% 26% 4% 10% 40 WA Local Government Super 1,062 Public High 40% 10% 8% 28% 2% 12% 41 Australia Post Super 936 Public High 40% 0% 0% 28% 10% 23% 42 Maritime Super 909 Industry Medium 53% 7% 4% 14% 12% 10% 43 Mercy Super 871 Corporate Medium 50% 12% 12% 12% 4% 10% 44 AMP Retirement Trust 804 Retail High 60% 6% 6% 23% 5% 0% 45 Christian Super My Ethical Super 790 Industry High 58% 10% 3% 24% 0% 5% 46 MIESF MySuper 733 Industry Medium 33% 22% 10% 25% 10% 0% 47 Australian Ethical Retail Super 684 Retail Medium to high 50% 20% 0% 23% 7% 0% 48 AvSuper Growth (MySuper) 666 Public Medium to high 60% 0% 0% 10% 2% 28% 49 NESS MySuper 589 Industry Medium to high 55% 10% 3% 21% 7% 4% 50 Nationwide Super 549 Industry Medium to high 54% 10% 7% 20% 4% 5% Average - All 53% 9% 6% 18% 6% 8% Average - All asset weighted 55% 9% 9% 13% 6% 8% Industry 53% 11% 8% 16% 5% 8% Corporate 54% 8% 4% 17% 7% 10% Public 48% 6% 4% 19% 8% 15% Retail 56% 8% 2% 24% 5% 5% Very high 70% 6% 0% 18% 5% 2% High 53% 9% 5% 18% 5% 10% Medium to high 54% 10% 6% 16% 6% 9% Medium 45% 11% 7% 22% 8% 7% 8 Rainmaker Information Pty Ltd