Super Funds

[Jonchilds]

Currently looking at super-funds and stuff with my brother, and wondering what our best options are.

I'm with HostPlus, and he's got his with WestScheme. They're both Industry Super Funds AFAIK, but don't relate to the industry we're working in.
Are we best leaving it with our respective funds, or switching to another fund?

Thoughts? Ideas? Experience?

[Darkbyte]

What is your industry?

[Jonchilds]

I used to work in Hospitality, hence Host Plus.
I now work as a research assistant at Murdoch Uni - So maybe UniSuper or some thing similar.

I kept the old fund because it was easier to get them to pay into that than to open a new one and move the funds around.

[Billywhizz]

C+Bus covers all industry and seams to be performing well against most

[Jonchilds]

The other option I want is to be able to put the Super money into a higher risk investment like Aussie Shares for the moment.
I can afford a bit of volatility at this stage...

[Billywhizz]

C+Bus gives you the choice of where your funds go and the % you put into each section
Low, medium and high risk

worth a phone call and ask them mate 1300 361 784 http://www.cbussuper.com.au/

[Jonchilds]

Cheers.

But I see no cement trucks or innuendo in this thread?
Very out of character...

[Fat Pat]

CP,

can't see how your current one won't allow you to select a "risk profile" Check out their web-site, they probably do....

Just don't sign up to one of those "Waste of space" retail funds!

Where would you like the cement delivered to?

[flashpixx]

With the new(ish) laws regarding freedom of chioce with super it has become a real PITA to decide which is the best. There is no substitute for doing your research. Superchoice is a good place to start. This site has some performance data on super funds.

As noted Industry funds are performing well ATM.

Keys to getting the best from super are:

1. have all your super in one place to minimise fees

2. If you have had a few jobs, search for unclaimed super on the ATO website

3. Don't just accept the superfunds default investment strategy - if you have more than 5-10 years to retirement you really should investigate an aggressive (high risk vs high return) strategy. Care must be taken to allow the fund to perform over a full cycle (min 5 years), and if you are risk averse (watch the investment like a hawk and at the first sign of a downturn pullout) an aggressive strategy may not be for you - seek professional advice (and NOT from the fund even if they are licensed to do so)

4. Ask questions of the fund if you are unsure.

[Billywhizz]

Cheers.

But I see no cement trucks or innuendo in this thread?
Very out of character... [/b]

Thats enough of that shite, anyone would think I was being nice

back to your corner and harden the fug up!

[Jonchilds]

Thanks flash - that's awesome.
Billy - Good to see it was a passing phase.

What's people opinions on the geared superannuation funds? Any chance they'll want me to contribute out of my own pocket if things go backwards?

[M_Green]

The best advice you can get is from a financial advisor, when you planning these sorts of things you have to take the whole situation into account, you cant just look at your super, it can effect all your finances, especially if you look at gearing loans and the like.

another peice of advice, ignore the industry super fund brainwashing and do your own research, yes they have less fee's but good advice is priceless and in many cases will enable you to attain higher returns than an industry super fund will, this is on top of fees.

just remember all this is just general advice, your personal situation has not been taken into account in preparing this adive.

[Jonchilds]

another peice of advice, ignore the industry super fund brainwashing and do your own research, yes they have less fee's but good advice is priceless and in many cases will enable you to attain higher returns than an industry super fund will, this is on top of fees.[/b]

Yes, that's quite obvious, particularly from the url=http://www.selectingsuper.com.au/misc/Aug07_SSPT_AustralianEquities.pdf]link[/url] flash posted.
The first industry fund is ranked 18th on the list, 7th if you remove all the geared retail funds...

Odd as it may seem, it's not so much the company your money is with, but where it's invested. That seems to be making the biggest difference.

[M_Green]

Yes, that's quite obvious, particularly from the url=http://www.selectingsuper.com.au/misc/Aug07_SSPT_AustralianEquities.pdf]link[/url] flash posted.
The first industry fund is ranked 18th on the list, 7th if you remove all the geared retail funds...

Odd as it may seem, it's not so much the company your money is with, but where it's invested. That seems to be making the biggest difference.

Thats because the company acts only as the trustee, it's the individual fund managers that you/they select that make you the money. Many companies use the same fund managers as well.