Super funds treat customers with contempt? That’s putting it lightly | Greg Jericho | Business | The Guardian

Fingers crossed

Over a decade my CBA Super Fund has yeild a total of 25%. There is absolutely nothing about a fund thats annual average has been a loss. The self managed portion of my fund has had a yeild of well over 100% and I’m certainly not a professional. Dear Agony Aunt have I been “ripped off”?  (ODT)

Of the 74 funds with MySuper products, the commission found that 20 were underperforming – worth about 4.6m member accounts. Of those 20, nine were retail funds, six industry, three corporate (ie funds set up to cover employees of a company) and two public sector funds.

But that breakdown wrongly suggests the retail and industry sectors are almost equally as bad.

What those numbers hide is that the nine retail funds are among the biggest of their kind and the six poor-performing industry funds are among the smallest.

In reality, most people in dud MySuper funds are in retail funds, and most of the people in retail MySuper funds are in dud funds.
The biggest losers: Productivity Commission finds super funds wanting

via Super funds treat customers with contempt? That’s putting it lightly | Greg Jericho | Business | The Guardian

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