APRA released a report this week which rated the performance of “MySuper” options over the last year. These are the superannuation products offered for use in Employer Superannuation funds. The poor-performing super funds included industry and retail funds.
It is disappointing that the report wasn’t clearly labelled as a comparison of “MySuper” options. This report has nothing to do with your superannuation or investment accounts administered by Colonial First State (CFS). CFS have an “Employer Super” product with a “MySuper” option which has underperformed. It is not a product that I use.
We use CFS as an administrator – their FirstChoice and FirstWrap products offer excellent value for money. These products have great options which we use to construct portfolios to meet your goals. Your portfolios have performed very well.
CFS are the best administrator I have used – and I’ve tried quite a few. I want to reassure you that we are confident in our decision to invest our own and your funds through them.