I am looking at putting super into conventional retail managed funds. Does anyone do this? Some interesting options I have found so far:

IOOF charges 0.77% pa through their pursuit select scheme, and has about 300 funds to choose from, from a variety of managers, typically not all the funds offered by a particular manager. They also offer a cheaper rate for their in-house managed funds, which appear to be a repackaged combination of retail funds.

esuperfund will run a SMSF for you, for about $1260 pa, and let you invest in just about anything. You have to provide them with the required paperwork from the fund manager each year, and they take care of the legal requirements from there. So a bit more work involved.

The term I was looking for is "super wrap".

Put it under your mattress

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I would never put it in a retail fund. The returns are worse because the retailer is making a profit

I have mine in an industry fund

What is it's performance?

Compare performance and fees.

https://www.ato.gov.au/YourSuper-Comparison-Tool/

Huge difference in returns.

Wrap platforms are still the most fully featured platforms with the most investment options available, though IOOF's wrap is fallen out of favour for quite a while.

These days a lot of the old advisers still use Colonial, BT Panorama was all the rage for a while because it was so digitally focused, as is NetWealth and Hub24. Macquarie Wrap is still the best combination of Cash management account + linked Wrap, MLC Navigator is okay if you have an adviser that knows how to use the software. AMP North is so so after all the scandals and layoffs.

You still get access to all your index funds (Vanguard, Blackrock) and ETFs but to be honest when comparing with an industry fund some of the fund managers available on wraps are like comparing a ferrari/lamborghini/porsche to a bicycle.

What I mean is you can have all the best fund managers; Vanguard, Magellan, Walter Scott, Platinum, Fairview, Bennelong etc producing insane 10-40 year returns after fees all competing on the high double digits and then people are talking about some industry/retail funds balanced option doing 7-10% max long-term (10 years+) it's not even a competition.

Wrap platforms and the top 100 funds for each asset class should almost fall into their own category outside of the usual and pointless industry/retail comparison of conservative/balanced/growth multi-funds. When the top 10 performing super funds did 18-22% for the year and someone's slightly leveraged CFS Wholesale Geared Shares did 100% for the year it's like.....yeah *shrug* anyway hope that helps. Happy to answer any questions if you're curious mate

Thanks for the offer. I ended up going self managed. Cheaper, and it looked like the retail wraps restricted where you could put your money. I am almost done with my first tax return.

Do you trust Morningstar's fund screening tool?

To a degree, I prefer Lonsec's as it's a lot note thorough but morningstar is decent. At least it's not Canstar...they're atrocious. Chantwest is decent too but manly on comparing platform fees