What super funds do we track?
Rollit tracks the diversified investment options of all personal, public offer super fund products. This might sound a bit 'super finance nerd gobbleygook' so let's break it down.
Diversified investment options
Most super funds offer a range of investment options, for example the MLC Personal Super product has over 40 investment options. Rollit made a decision to only track the performance of diversified investment options. Why?
Diversification is a big word for an investment strategy that reduces risk. The goal of diversification is to minimise the impact of a poor investment to your overall investment returns. Super funds have professional fund managers who work out optimal investment portfolios that maximise diversification and minimise risk.
Super funds offer diversified growth, balanced and capital stable investment options that have been diversified by fund managers. This means you personally don’t need to create diversification by investing in multiple super funds. It will not reduce your risk, it just increases your fees.
Equally, diversified investments invest in commercial property and international technology shares such as Apple or Amazon. This means you don't need to specifically invest in property or technology in your super, because part of your super is already invested in these assets.
Other investment options. You may have the option of investing in single sector or single fund manager investment options through your super fund. For example a Global Property Fund or a Hedged Equities Fund. Some of these investment options are not diversified and may increase your investment risk. Because Rollit does not know your personal financial situation and goals, we have made the decision to exclude these alternative investment options from our comparison service.
If interested in single sector or single fund manager investments, seek financial advice from an independent financial adviser before investing. They will help you assess whether the investment option is appropriate for you having regard to your objectives, financial situation and needs.
Personal, public offer super products
Some superannuation products are only available to employees of specific industries, corporations or businesses and cannot be joined by individual members. For example the BHP Staff Super Fund, Telstra Super (Telstra employees and their families) and UniSuper (Tertiary education employees and their families) .Rollit has excluded super funds that do not offer products to individual members of the public.
Note - some of these super funds are beginning to open their products up to new members. We are constantly reviewing changes in the market and intend to add new super products as they become available.
In addition to products 'closed' to the public, new super funds that have less than 1 year performance data are also excluded from our comparison service. Super is a long term investment and we only track super funds with 1 year of performance data. As new super funds achieve 1 year of performance data we will add the fund to the ranking table.
Finally, if you notice that your super fund or investment option is not in our ranking table, please let us know. We will track down the fund and investment option and if it a diversified investment for a personal, public offer product we will include the product in a future release.