July 28, 2021
Annual results on super fund performance to 30 June show that Mine Super has had a strong 12 months, with the industry fund for miners and the mining industry being ranked first in a table of the top 10 growth funds.
With new ‘Your Future, Your Super’ laws passed by Federal Parliament, it’s important to keep up to date on your super fund’s performance.
Number 1 growth super fund
On 19 July 2021, independent super fund research agency Chant West released its top 10 growth funds for the financial year with Mine Super’s Growth investment option coming out on top.
Mine Super took out the top honours in a top 10 made up of several popular retail and industry super funds. The Mine Super Growth investment option delivered a 22.6% return for the financial year, and this number one position has been called out by many publications, including The Australian Financial Review, The Australian, Daily Telegraph and SuperGuide.
The Mine Super High Growth investment option also delivered stellar performance, with a 26.2% return over the same period. Mine Super members invested in the Lifecycle Investment Strategy have some or all of their super invested in this option, if they’re below age 65.
In addition, Mine Super’s Lifecycle Investment strategy made Rainmaker’s Top 10 list of MySuper products, based on fees and five-year performance.
Mine Super’s Chief Investment Officer Seamus Collins says the fund made significant changes to its investment strategy two years ago, which are paying off now. Find out more about Mine’s investment strategy and forecast in Seamus’s end of year update.
About Mine Super
Insurance designed for miners: All insurance cover provided by Mine Super is paid for via premiums deducted from members’ super accounts. We’re one of the few super funds that provide Death, Terminal Illness, Total and Permanent Disablement, and Income Protection insurance cover for workers in mining or other high risk occupations automatically, without the need for health information.
What does this look like for an average member?
Chris* is 44 years old and has automatic Income Protection and Death and Total and Permanent Disablement cover through his Mine Super account. His job classification is Mining with a nominated salary of $100,000. Chris is covered for 75% of his salary plus 9.5% of salary paid as a contribution to his super account for up to 2 years (after a 60 day waiting period) plus $100,000 Death and $100,000 Total and Permanent Disablement cover. Chris pays $77.63 per fortnight in premiums for his insurance cover.
80 years commitment: Mine Super was born out of the mining industry and connects with miners every day. Fund representatives understand shift work, wet days, inductions and what it’s like on the ground, getting out on site for pit top talks, financial advice sessions and support for members. For more information, you can get in touch with your local Mine Super contact, call on 13 64 63, Monday to Friday from 8am to 6pm or email at [email protected].