Funds operated by Perpetual, NAB-owned MLC and life insurer Zurich joined them on the list.Īussies who keep their super in these funds face an average of 2.07 per cent in fees, when many better-performing funds charge just 1 per cent or lower. More than half of the 40 funds on the fat cat list are operated by these two providers, according to StockSpot. The list is compiled from analysis of the funds’ investment returns over a five-year period after fees are taken out. StockSpot - which does not operate a super fund - has found funds by ANZ Bank’s OnePath business and wealth manager AMP to be tied for the unenviable title of “Australia’s worst fat cat”, as 11 funds each make the naughty list. That’s the conclusion of the seventh annual Fat Cat Funds Report by online investment adviser StockSpot, which names and shames Australia’s worst value superannuation funds and has found the average Aussie super investor stands to lose that alarming amount in some funds.įunds from ANZ and AMP are tied for the unenviable title of “Australia’s worst fat cat”. If you’re a 35 year old earning $78,192 a year and you have your superannuation with ANZ or AMP you could be exactly $200,670 worse off when you retire.
