AustralianSuper vs HESTA super
Tossing up between AustralianSuper and HESTA? We've compared their fees, investment options and performance side by side to help you choose.
Key takeaways
- AustralianSuper has more members and more funds under management than HESTA.
- The default MySuper options by AustralianSuper and HESTA are both top-performing funds and have achieved very similar performance returns over the short and long term.
- AustralianSuper's MySuper product has slightly lower fees compared to HESTAs.
AustralianSuper vs HESTA
| AustralianSuper | HESTA | |
|---|---|---|
| Type of fund | Industry super fund and Australia's largest super fund | Industry super fund with a focus on the healthcare sector |
| Number of members | 3.4 million members | 1.05 million members |
| Funds under management | $341 billion | $88 billion |
| Default investment option | AustralianSuper Balanced This is a pre-mixed, diversified fund that invests your super in a range of assets with a strong allocation towards Australian and international shares, direct property and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product. | HESTA Balanced Growth Similar to AustralianSuper Balanced, this is a ready-made investment portfolio with a strong focus on shares, private equity and infrastructure. Investment allocation is the same for all members in the Balanced fund, regardless of age. It's an authorised MySuper product. |
| Performance | Past performance of AustralianSuper Balanced:
| Past performance of HESTA Balanced Growth:
|
| Fees | Here's how much you'd pay in fees for one year if you had the following amounts invested in AustralianSuper Balanced:
| Here's how much you'd pay in fees for one year if you had the following amounts invested in HESTA Balanced Growth:
|
| Additional diversified investment options | If you don't want to invest in the default option (AustralianSuper Balanced), you can choose to invest your super in one of the following pre-made investment options instead:
| If you don't want to invest in the default option (HESTA Balanced Growth), you can choose to invest your super in one of the following pre-made investment options instead:
|
| Single asset class investment options | If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
| If you want to design your own investment mix, you can invest your super in one or more of the following individual asset classes:
|
| Ethical investment | The AustralianSuper Socially Aware option doesn't invest in Australian or international companies that directly own coal and fossil fuel reserves, produce tobacco or those which have single-gender boards. AustralianSuper lists all its fund holdings on its website. Past performance of AustralianSuper Socially Aware:
If you had $50,000 invested in AustraliaSuper Socially Aware you'd pay annual fees of $402. | The HESTA Sustainable Growth option invests in companies "with above average environmental, social and governance performance". It lists its top 20 holdings on its website. Past performance of HESTA Sustainable Growth:
If you had $50,000 invested in HESTA Sustainable Growth you'd pay annual fees of $562. |
| Mobile app | The AustralianSuper app has a 3.6-star rating from users in the Google Play Store and a 3-star rating in the Apple App Store. | The HESTA mobile app has a 1.5-star rating from users in the Google Play Store and a 1.3-star rating in the Apple App Store. |
| Read more | More Info | More Info |
Our expert says: Choosing a super fund
"Choosing super funds can feel overwhelming, but it gets easier once you've narrowed it down to a couple of options. If you can't decide between two similar funds, compare the fees and fund performance. Don't just look at the last year, but look at 5 and 10-year performance. And make sure you're comparing similar fund options. A high growth fund will have different performance to a balanced fund. "
How do the default MySuper products compare?
These two products are very similar; both AustralianSuper Balanced and HESTA Balanced Growth are authorised MySuper products, both are pre-mixed, diversified funds and both have a similar risk level.
Overall, AustralianSuper Balanced has a bit more exposure to high-risk, growth assets like internatrional shares, but the difference is only minor.
How do their fees and performance figures compare?
Looking at the default options, AustralianSuper has slightly lower annual fees than HESTA. AustralianSuper Balanced has also delivered slightly higher returns over the long term.
If you're interested in knowing how both AustralianSuper and Hesta compare to other funds, have a look at our top Australian super funds guide.
How do the ethical investment options compare?
Both AustralianSuper Socially Aware and HESTA Sustainable Growth avoid investments in fossil fuels, tobacco and gambling among many other harmful industries. However, AustralianSuper is more transparent with its investments; it has a full list of its fund holdings on its website for you to see exactly which companies it invests in, while HESTA only lists its top holdings.
HESTA Sustainable Growth has achieved better returns than AustralianSuper Socially Aware over the short, medium and long term. However, HESTA's fees are slightly higher.
If you're interested in investing your super ethically, you can compare these funds with range of additional ethical super funds in our guide.
How do the additional investment options compare?
AustralianSuper and HESTA offer very similar additional investment options. Again, HESTA charges slightly higher fees for its additional investment options compared to AustralianSuper.
If you're unsure how these different options work with your super fund, here's a guide on superannuation investment options and how to choose between them.
"HESTA and Australian Super are some of the best-performing super funds over the short and long term. HESTA is a super fund for the health industry, which is predominantly female; I applaud the fact that HESTA uses its influence to advocate for gender equality through both responsible investment practices and advocacy. "
Want to keep comparing?
If you're not yet convinced that either AustralianSuper or HESTA is right for you, or you simply want to see how they compare to others in the market, you can compare super funds with our guide.
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Hi, should I be concerned with recent developments with Australian Suoer being fined 27 million, is my money safe, will this affect the future performance of my fund, should I consider rolling my super over to another provider?
Hello Roxy,
It’s always really disappointing when an institution you hold money with gets in trouble with a regulator. Ultimately any business that gets a fine like this will pass it onto customers one way or another.
With a super fund, there’s not really a big danger of the fund going bankrupt. Australia’s super industry is considered very safe and well regulated.
Performance is another matter altogether. But that’s hard to predict. Australian Super has over $300 billion in assets under management. So a $27 million dollar fine is incredibly small in the grand scheme of things.
Ultimately you have to make your own decision with something like this. But rather than worrying about your money being safe, I think this is a good opportunity to review your super fund options, your fund’s performance and the fees you are paying and see if switching is a good idea.