The Worst Performing Super Funds of 2023 Revealed

In this video, I'm going to discuss the recently released government report on the worst performing Australian superannuation funds. I’m going to explain what the report was all about, which super funds failed the performance test and what you should be doing about it - even if your super fund isn’t on the list.
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⏱ Timestamps
00:00 - The Worst Performing Super Funds
00:40 - APRA Report Summary
00:55 - MySuper vs Choice Products
01:36 - Super Fund Underperformance Statistics
02:20 - Definition of ‘Underperforming’
03:26 - List of Underperforming Super Funds
03:52 - What Should You Do About Underperforming Super?
04:40 - Risks of Switching Super Funds
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The Worst Performing Super Funds of Revealed
The Government has recently released its findings on the worst performing Australian superannuation funds in a report conducted by APRA.
Of the super fund options reviewed, 1 in 2 have underperformed and 1 in 5 have significantly underperformed the benchmark expectations. It gets worse if you’re stuck in an underperforming fund that is closed to new investors, because 2 of 3 of these are underperforming.
If you are in one of the worst performing super funds, it might not be a good idea to search for the best performing super fund just yet. You first need to understand all of your options and risks of transferring your super.
#SuperGuy #ChrisStrano #Superannuation #RetirementPlanning
DISCLAIMER: The SuperGuy website and SuperGuy KZbin channel contains general advice only. It is not personal advice as it does not take your specific needs or circumstances into consideration. Therefore, you should look at your own financial position, objectives and requirements and seek personal financial advice before making any financial decisions.
General advice is provided by Toro Wealth Pty Ltd trading as SuperGuy Retirement Experts as an Authorised Representative of Core Value FA Pty Ltd (AFSL 480387).
Before acting on any information, you should seek professional advice and verify our interpretation/s before relying on the content or calculators within this website or on the videos, while also considering its appropriateness in relation to your personal situation.

[@sansutpai2313]

I like your content very much. I have a question, how do they group the funds among themselves when they make this evaluation? How can I access this information?

[@russellh24680]

Enjoying the info.❤😊

[@SuperGuyAu]

Thanks for watching!

[@paulmarriott1]

Hi Chris, Do you have a video with the following scenario. Unable to work due to illness, TPD paid into super and Lump sum v's Income stream? Thanks Paul

[@SuperGuyAu]

Hi Paul, no net yet. There are a number of things to consider in relation to this comparison (age, tax components, objectives, other sources of income, etc.). I would strongly suggest obtaining personal financial advice.

[@shirleyparkes5283]

New to your channel, just wondering is the Plum ( think is under MLC) safe ? Thx

[@SuperGuyAu]

All Australian superannuation funds are regulated by APRA

[@user-dk5qq6nh2b]

Hi Chris, does anyone publish a list of the BEST performing super funds? Thanks, David

[@SuperGuyAu]

Hi David, there are many lists, but I would take them all with a grain of salt. It is rare for a super fund to be best performing on a consistent basis, but much easier to be best performing in any one year or on a conveniently selected time period.

[@user-ym5km8eq1v]

Do they give out the top 10 super funds

[@andrewferguson887]

Ask them every year what % return you received, you will be surprised how poor some of them perform.

[@stevenblack3092]

Try getting money out of CBUS they won’t recognise power of attorney had to pay for my partner’s health care 18 months later we moved to another fund who would I also moved mine out as well

[@nicoleconnolly4659]

You are up there with the Barefoot investor. I love your videos.

[@SuperGuyAu]

I appreciate that! Thank you!

[@4bnewb969]

Hi Chris, Thanks for posting all these videos. Great info. As shown in your list and as you mentioned the underperformance of a given Fund maybe limited to certain investment options in the fund whereas other options can be performing as expected or better. How do you find out which if the fund options are underperforming? Do you have a list for of these options? Cheers

[@kidsoxoxox]

My little sub $80k SMSF in physical Silver was easily the worst, until about a month ago :)

[@aussiewatcher5986]

Did I miss something where’s the list

[@SuperGuyAu]

Yeah, sorry, the list was only up for a little bit. Check the 3:30 mark

[@paulietv2162]

I don't like these 12 month 'name and shame' lists, it discourages Super fund managers from long-term strategic investments.

[@coffeeaffairs5643]

is mlc my super fund good?

[@darrenwillis9918]

Don’t go anywhere near mlc or you retire with nothing 👍

[@coffeeaffairs5643]

Can you please release good performing super funds?

[@SuperGuyAu]

Will do....I'll add it to the list!

[@miraja8298]

Is AMP MyNorth a good super fund?

[@pradipamahadeva8051]

HESTA HOST REST😊

[@Andre_XX]

All these comparisons and investment choices sound reasonable until the next inevitable market crash whose timing nobody can predict with any accuracy. Good luck all, YOU wear all the market risk and pay handsome fees to the funds to "manage" and sometimes lose your money for you. You will be contributing to the around $30 billion dollars annual cost of running the Super system in Australia. You need wonder no longer where the money comes from to pay for all those residential palaces, Ferraris and private jets and why you will retire poor.

[@cybasmuggla3697]

You'll retire poor champ. My super is screaming.

[@jayejaye2320]

thanks god!! my super fund not on the list lol

[@LinuxGalore]

my biggest annoyance with Australian super funds is none of them allow you to direct your money into MOAT shares during unstable times. You are forced into bonds, cash and low performing "safe" [sic] stocks. I have my own MOAT investment that I run on the side, and it is slaughtering my super funds "stable" investment returns right now.

[@SuperGuyAu]

Hi Richard, an SMSF provides a higher degree of investment flexibility. Read more here www.superguy.com.au/smsf/what-is-a-self-managed-super-fund/ or check out my SMSF videos.