First Super has delivered another year of robust investment performance for its members, reporting annual returns of 10.68% in the Balanced (default) option, 11.90% in Growth, and 13.91% in Shares Plus.
First Super’s cash option also performed strongly, returning 2.31% over 2017/18.
The Growth option return saw First Super outperform most other superannuation funds in the market, including industry funds 50 times larger in funds under management.
"The big funds, some regulators and some media commentators would like Australians to believe that only funds over a certain size can possibly compete in the market.
"These results show that you don’t need to be a member of a large super fund to get great returns on your hard-earned retirement savings; small funds can compete on returns and fees."
Mr Watson also addressed other criticisms circulating about smaller industry funds.
"In superannuation it is important to not be distracted by spurious ‘one size fits all’ type arguments. We saw this with the faux debate on independent directors, and we also see it with the concerted push for fund consolidation," he added.
"First Super’s value proposition is that it is close to its members as a small industry fund designed for workers in a particular sector and a top performer in the marketplace."
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