Is your fund ‘stealing’ from you?

Stockspot’s most recent annual Fat Cat Funds Report reveals the super funds that charge high fees and deliver low returns and, unsurprisingly, bank funds are the biggest culprits.

The report showed that ANZ, AMP and CBA were the worst offenders.

However, the banks have hit back, saying the report is “substantially overstated”.

Regardless, figures found in the research revealed how some Australians stand to lose up to $100,000 from every $400,000 they put into super, simply due to high fees and poor returns.

The Stockspot study examined 4100 super funds worth around $709 billion. Of these 4100 funds, 521 were deemed to be fat cats, worth around $45.59 billion. Around $600,242,623 in fees are paid to fat cat funds each year. The average fee charged by fat cat funds is 1.99 per cent.

Funds that underperform other funds by more than 10 per cent are deemed fat cats. Two thirds of all fat cat funds are managed by the Big Four banks.

And bank-owned funds weren’t the only ones who fell into the fat cat category: two per cent of all industry super funds are fat cats, compared with 13 per cent of all retail funds.

The Fit Cat Awards were also announced, with Folkestone Maxim Asset Management taking out the top spot, followed by Forager Funds Management, Firstmac, Supervised Investments Australia Ltd and Equity Trustees.

Find out if your super fund is a fat cat or a fit cat at

Do you know how much in fees you pay each year? Are you surprised that bank-owned funds are the worst offenders? Is your super fund a fat cat?

Related articles:
Super funds deliver $140 billion windfall
Is your super fund costing you $100k?
Is your super fund in the top 10?

Written by Leon Della Bosca

Leon Della Bosca has worked in publishing and media in one form or another for around 25 years. He's a voracious reader, word spinner and art, writing, design, painting, drawing, travel and photography enthusiast. You'll often find him roaming through galleries or exploring the streets of his beloved Melbourne and surrounding suburbs, sketchpad or notebook in hand, smiling.


Australian super funds enjoy the strongest returns in four years

Australian super funds deposit $140 billion into the retirement kitty.

The wrong choice of super fund may cost you $100,000

By choosing the wrong super fund, people in their 50s could lose $100,000.

SuperRatings releases its top 10 superannuation funds

SuperRatings releases its report on the top ten performing funds for 2016.