Whilst it seems that both Retail and Super Funds have poor returns, Shorten seems to favour the Industry Funds where many ex union members are employed.
Shorten apparently loves his Industry Funds which make little money.
You would be better of buying shares in your own name, if you were allowed to.
These figures are extracted from the Annual Financial statements which are all available online.
For example, Australian Super has income of 4660 million, expenses of 967 million. So that is 20.8% expenses compared with income.
This is made up of :
Investment expenses 3(c) 465 million
Trustee service fees 296 million
Total 761 million
Note 3(c) Australian Super Extract, Annual Report - "Investment expenses Master custodian and investment manager fees and other investment expenses are recognised on an accruals basis and represent costs incurred directly by the Fund in managing the investment portfolio. They do not include fees incurred within underlying investment vehicles. "
So Australian Super charges do not include expenses in investments, so there is even more expenses !
The banking enquiry gave an example of AMP Super Fund (not an Industry Super Fund) of a man investing $100,000 into a cash fund. After 3 years, his balance was $97,000. Many expenses were taken out of the CASH ONLY Super Fund.
Have a look at the MTAA Annual Report. All the big wigs are getting $229k-$436k. The fund doesn't even make above the All Ordinaries for 2018. Note, if the persons listed above, in the public Annual Report are not Shorten's Mates, I apologise in advance I will print your name here
to say you are not a mate of Bill Shorten.