ANZ Smart Choice Super Review
ANZ Smart Choice Super Performance: Returns to September 30 2021
|Investment Option||1 Year||3 Year||5 Year|
|Conservative VS Median||-1.22%||-0.49%||-0.78%|
|Moderate* VS Median||-2.51%||-0.90%||-1.01%|
|Growth VS Median||-1.92%||-0.93%||-1.09%|
ANZ Smart Choice Super Fees
|Investment Option||Flat Fee||Percentage Based Fee||Fee Based on 50k|
|ANZ Smart Choice Super - Conservative||60||0.74%||$430|
|ANZ Smart Choice Super - Moderate*||60||0.74%||$430|
|ANZ Smart Choice Super - Growth||60||0.74%||$430|
|ANZ Smart Choice Super||-||-||-|
*Please note, this is not the default investment option for this fund.
ANZ Smart Choice Super Fund Information
ABN: 61 808 189 263
Address: GPO Box 5107 Sydney NSW 2001
About ANZ Smart Choice Super
ANZ Smart Choice Super is the Superannuation product of ANZ bank. It is managed by OnePath Custodians, a former subsidiary of ANZ, now owned by IOOF.
Smart Choice Super is promoted as a simple, low-cost Super option, targeted at ANZ customers, although anyone can join.
According to Chant West they have 420,000 customers with $16.8 billion in funds under management.
ANZ Smart Choice Super Investment Options
ANZ Smart Choice Super offers ‘Lifestage’ investment options, which are mixed investment options that tilt more toward defensive or growth depending on your DOB. They gradually becomes more defensive the closer you get to retirement.
They also offer 3 ‘Multi-asset class options’ and 7 ‘Single asset class options’
Conservative, Moderate and Growth.
Single asset class:
Cash, Australian fixed interest, Global fixed interest, Global property, Australian equities, international equities hedged and International equities unhedged.
ANZ Smart Choice Super Performance
ANZ Smart Choice Super’s Multi asset class options: Conservative, Moderate and Growth have all under performed the median for their asset class over 1, 3 and 5 years.
ANZ Smart Choice Super Fees
ANZ Smart Choice Super fees are below the median compared to other funds listed on Review My Super.
There is no industry benchmark for fees to compare against.
ANZ Smart Choice Super Insurance
ANZ Smart Choice Super offers life, TPD and income protection Insurance to their members.
Automatically applied cover amounts are based on your age, gender, and smoker status.
You can apply for greater amounts of cover, which will be subject to underwriting.
Insurance is provided by OnePath Life Limited. You can compare the wider market and have the premiums paid via your super. Compare insurers here.
ANZ Smart Choice Super Financial Advice
ANZ can offer general advice over the phone at no cost. They also offer personal advice, however they note that it’s best suited for complex wealth needs, specifically if you have a combined household income of more than $250,000, or savings and investments of more than $500,000 (excluding your family home).
A benefit of seeking advice through ANZ is it is free for general advice and the advisers will be very familiar with ANZ Super and all its options.
The downsides are, they will not likely recommend funds and insurance other than ANZ affiliated products, even if there are more suitable options. They also may not provide advice unless you meet the above income and asset thresholds.
To speak with an advisor that can consider all available funds and insurers in the market, please fill out the ‘Speak To An Advisor’ form on this page.
Frequently Asked Questions
ANZ Smart Choice Super’s growth, balanced and conservative options have all under performed the median. Fees are about average for My Super options. Morningstar have given it a 3 out of 5 star rating. Based on this evidence, it would be difficult to declare it a good super fund.
No, ANZ Smart Choice Super is regulated by APRA
No, ANZ Smart Choice Super is a retail fund
ANZ Smart Choice Super is owned by The Australia and New Zealand Banking Group Limited (commonly called ANZ)
Yes, anyone can join ANZ Smart Choice Super