MLC MasterKey Super Fundamentals Review
MLC Masterkey Super Fundamentals is a retail super fund owned by Insignia Financial.
As of the 31st of March 2026 they had approximately 644,190 members and $91.90 billion in assets under management across all the MLC super and pension funds.
Please Note: Any advice on this page is general in nature and does not take into account your objectives, financial situation or needs. Consider whether this is right for you. See full disclaimer.
Past performance is not a reliable indicator of future performance.
MLC MasterKey Super Fundamentals Performance
The full menu is large and all options are not listed below. We have included a selection of some popular options.
For a comparison against AustralianSuper see MLC MastkerKey Super Fundamentals vs AustralianSuper
Select an investment option from the menu below to see performance.
MLC MasterKey Super Fundamentals Fees
The fund has no flat fees making it potentially a low fee option for smaller balances. However, some of their investment options have significantly higher fees than other similar options listed on Review My Super.
Select an investment option from the menu below to see flat fees, percentage based fees and total fees on a balance of $50,000.
Returns to September 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Aggressive | 7.09% | 13.88% | 8.57% |
| Median | 7.2% | 11.7% | 7.7% |
| MLC MK Super Fundamentals - MLC Aggressive VS Median | -0.11% | 2.18% | 0.87% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Aggressive | 78 | 1.6% | $878 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 50% | |
| 2 | International Shares | 67% | |
| 3 | Alternative | 10% | |
| 4 | Property | 3% | |
| 5 | Other | -30% |
Returns to January 01 1970
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MyNorth Select - North Professional High Growth | - | - | - |
| Median | - | - | - |
| MyNorth Select - North Professional High Growth VS Median | - | - | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MyNorth Select - North Professional High Growth | 360 | 1.48% | $1100 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 41% | |
| 2 | International Shares | 49% | |
| 3 | Fixed Interest | 1% | |
| 4 | Alternative | 3% | |
| 5 | Property | 3% | |
| 6 | Cash | 3% |
Returns to September 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC High Growth | 7.4% | 11.87% | 7.63% |
| Median | 7.2% | 11.7% | 7.7% |
| MLC MK Super Fundamentals - MLC High Growth VS Median | 0.2% | 0.17% | -0.07% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC High Growth | 78 | 1.29% | $723 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 36% | |
| 2 | International Shares | 42% | |
| 3 | Alternative | 15% | |
| 4 | Property | 5% | |
| 5 | Cash | 2% |
Returns to September 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Growth | 7.2% | 10.97% | 6.92% |
| Median | 7.2% | 11.7% | 7.7% |
| MLC MK Super Fundamentals - MLC Growth VS Median | - | -0.73% | -0.78% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Growth | 78 | 1.34% | $748 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 32% | |
| 2 | International Shares | 36% | |
| 3 | Fixed Interest | 3% | |
| 4 | Alternative | 20% | |
| 5 | Property | 6% | |
| 6 | Cash | 3% |
Returns to September 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Balanced | 7.16% | 10.14% | 6.2% |
| Median | 6.3% | 10% | 6.7% |
| MLC MK Super Fundamentals - MLC Balanced VS Median | 0.86% | 0.14% | -0.5% |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Balanced | 78 | 1.33% | $743 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 25% | |
| 2 | International Shares | 32% | |
| 3 | Fixed Interest | 7% | |
| 4 | Alternative | 24% | |
| 5 | Property | 6% | |
| 6 | Cash | 6% |
Returns to January 01 1970
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MyNorth Select - North Professional Balanced | - | - | - |
| Median | - | - | - |
| MyNorth Select - North Professional Balanced VS Median | - | - | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MyNorth Select - North Professional Balanced | 360 | 1.32% | $1020 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 28% | |
| 2 | International Shares | 34% | |
| 3 | Fixed Interest | 22% | |
| 4 | Alternative | 4% | |
| 5 | Property | 4% | |
| 6 | Cash | 8% |
Returns to January 01 1970
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MyNorth Select - North Professional Moderately Conservative | - | - | - |
| Median | - | - | - |
| MyNorth Select - North Professional Moderately Conservative VS Median | - | - | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MyNorth Select - North Professional Moderately Conservative | 360 | 1.22% | $970 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 20% | |
| 2 | International Shares | 25% | |
| 3 | Fixed Interest | 34% | |
| 4 | Alternative | 5% | |
| 5 | Property | 4% | |
| 6 | Cash | 12% |
Returns to January 01 1970
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MyNorth Select - North Professional Growth | - | - | - |
| Median | - | - | - |
| MyNorth Select - North Professional Growth VS Median | - | - | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MyNorth Select - North Professional Growth | 360 | 1.45% | $1085 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 35% | |
| 2 | International Shares | 42% | |
| 3 | Fixed Interest | 11% | |
| 4 | Alternative | 4% | |
| 5 | Property | 4% | |
| 6 | Cash | 4% |
Returns to January 01 1970
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MyNorth Select - North Professional Conservative | - | - | - |
| Median | - | - | - |
| MyNorth Select - North Professional Conservative VS Median | - | - | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MyNorth Select - North Professional Conservative | 360 | 1.09% | $905 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 11% | |
| 2 | International Shares | 16% | |
| 3 | Fixed Interest | 46% | |
| 4 | Alternative | 4% | |
| 5 | Property | 3% | |
| 6 | Cash | 20% |
Returns to September 30 2026
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Socially Responsible Growth | 8.66% | 14.22% | - |
| Median | 7.2% | 11.7% | - |
| MLC MK Super Fundamentals - MLC Socially Responsible Growth VS Median | 1.46% | 2.52% | - |
Fees
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| MLC MK Super Fundamentals - MLC Socially Responsible Growth | 78 | 1.02% | $588 |
Asset Allocation
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 30% | |
| 2 | International Shares | 48% | |
| 3 | Fixed Interest | 5% | |
| 4 | Alternative | 14% | |
| 5 | Cash | 3% |
Performance data: Lonsec. Median benchmarks: Chant West. Data is updated monthly; the reporting period is shown in the tables. Investment options are compared with the Chant West median for their risk profile.
Insurance
This fund offers death and TPD insurance cover to their members.
Whilst most members are offered default Death and Total and permanent Disablement Cover, they can also apply for Income Protection Cover.
Additional cover is available with the following limits:
Death – No maximum
TPD – $5 million
Income protection – up to $30,000 per month.
Insurance is provided by MLC Limited.
Fund details
Read their PDS and TMD for further details.
FAQ's
We use investment performance data supplied by Lonsec and median benchmarks supplied by Chant West, both updated monthly.
Each investment option is assigned to a Chant West risk profile based on its proportion of growth assets. We then compare its return with the median benchmark for that risk profile over the same reporting period.
The difference shown in the table is the investment option’s return minus the median return.
Grouping options by growth asset allocation helps make comparisons more accurate, although options within the same profile can still have different investments and risks. Past performance is not a reliable indicator of future performance.
Member ratings and investment returns measure different things.
Member ratings reflect the experiences and opinions of people who submit reviews. These may relate to customer service, fees, insurance, administration or their satisfaction with investment performance.
Our performance tables compare an investment option’s reported returns with the relevant benchmark over specified periods. A fund can therefore deliver above median returns while receiving poor reviews for service or insurance or receive positive reviews despite below median returns.
Submitted reviews may not represent the experience of all members. Consider them alongside performance data, fees, insurance features and the fund’s official documents.
MLC MasterKey Super Fundamentals Reviews
3.3 out of 5 stars from 9 customer reviews on Australia’s best superannuation review site Review My Super.
See more Super Fund Reviews to compare ratings and reviews across funds.
Just turned 60, been in the fund for over 10 years, been a good fund.
It’s a scammer, mlc shut my super account without my concerns and ignore to pay back my super funds
High fees but cover and low withdrawals for present time if need be
Very happy with performance
MLC Masterkey Super Fundamentals appears to be a quiet achiever.
Finding it impossible to get my money out! I retired in the UK and don’t have a Australian bank account anymore; I can’t open an Australian bank account as I don’t have an Australian address and MLC will only provide an Australian dollar cheque which they won’t honour and gets continually blocked at clearing.
Set and forget from MLC, very little contact
Hard to work out yearly perfornance, have to go external from their own site to do so
Fees are too high for the return