Colonial First State FirstChoice Superannuation Trust — superannuation fund performance
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
Colonial First State FirstChoice Superannuation Trust reported A$107.6bn of total assets for 611,943 member accounts (average balance A$174k) in APRA's fund-level statistics for the year to 30 June 2025, with a one-year rate of return of 10.6%.
| Total assets | A$107.6bn |
| Member accounts | 611,943 |
| Average member balance | A$174k |
| 1-year rate of return | 10.6% |
| 5-year rate of return (annualised) | 7.6% |
| 10-year rate of return (annualised) | 5.8% |
| Investment options offered | — |
What running the fund costs
For its reporting year ended 30 June 2025, Colonial First State FirstChoice Superannuation Trust ran on an operating expense ratio of 0.1% — the running cost per dollar of savings (0.5% is 50 cents per A$100 a year). Payments to related parties — companies connected to the fund's own trustee or owner group — came to A$154.0m, equal to roughly 56.2% of its administration bill (a related-party payment is disclosed, not improper — but it is worth knowing who the fund pays).
| Operating expense ratio | 0.1% |
| Investment expense ratio | 0.0% |
| Administration and operating expenses | A$274.2m |
| Marketing spend | A$28.5m (about A$47 per member account) |
| Executive remuneration (expensed to the fund) | A$513k |
| Director remuneration | A$872k |
| Payments to related parties | A$154.0m |
The annual performance test
Every year the regulator tests most super products against a benchmark portfolio — fail twice and the product must close to new members. As at 30 June 2025, 57 of this fund's products and options were tested, and every one of them passed:
| Product / option | Type | Test result | 10-yr return | Admin fee |
|---|---|---|---|---|
| FirstChoice Employer Super - MySuper | MySuper | Pass | — | 0.1% |
| FirstChoice Wholesale Personal Super — CFS Growth | Choice | Pass | 6.7% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Moderate | Choice | Pass | 5.5% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Enhanced Index Balanced | Choice | Pass | 7.1% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Index Growth | Choice | Pass* | — | 0.2% |
| FirstChoice Wholesale Personal Super — CFS High Growth | Choice | Pass | 7.9% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Select Diversified | Choice | Pass | 6.8% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Enhanced Index Diversified | Choice | Pass | 5.7% | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Enhanced Index Growth | Choice | Pass | — | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Index Balanced | Choice | Pass* | — | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Index High Growth | Choice | Pass* | — | 0.2% |
| FirstChoice Wholesale Personal Super — CFS Balanced | Choice | Pass | 6.1% | 0.2% |
Showing 12 of 57 tested products/options for this fund (largest first).
Does the insurance pay out?
Most super accounts carry insurance, paid from your balance. The admittance rate is the share of finalised claims the insurer accepted in the year to 30 June 2025 — the single best number for "does this cover actually pay". Over the year it collected A$138.1m in premiums and paid out A$127.1m in claims (claims paid in a year often relate to earlier years' cover, so this is a cash-flow picture, not a loss ratio).
| Cover type | Claims accepted (1-yr) | Claims paid | Premiums collected | Insurer |
|---|---|---|---|---|
| Life insurance (death cover) | 97.5% | A$40.8m | A$56.2m | AIA Australia |
| Total & permanent disability (TPD) | 84.9% | A$61.1m | A$55.2m | AIA Australia |
| Income protection | 91.4% | A$25.2m | A$26.6m | AIA Australia |
The gender gap in this fund
In Colonial First State FirstChoice Superannuation Trust, women's average balance was 5.2% lower than men's — from the fund-level member demographics APRA last published for the year to 30 June 2022:
| Average balance — female members | A$120k |
| Average balance — male members | A$126k |
| Member accounts (female / male) | 295,726 / 375,408 |
Compare Colonial First State FirstChoice Superannuation Trust with similar funds
The funds closest to Colonial First State FirstChoice Superannuation Trust in size, side by side — each with its own page for the fees, insurance and performance-test detail:
| Fund | Assets | 1-yr return | 10-yr return | Why comparable |
|---|---|---|---|---|
| Construction and Building Unions Superannuation Fund | A$107.0bn | 10.0% | 7.4% | Similar size |
| Retail Employees Superannuation Trust | A$101.6bn | 9.7% | 6.4% | Similar size |
| HESTA | A$101.2bn | 10.1% | 7.2% | Similar size |
| Military Superannuation & Benefits Fund No 1 | A$99.8bn | 1.6% | 2.1% | Similar size |
| MLC Super Fund | A$94.0bn | 9.6% | — | Similar size |
| Public Sector Superannuation Scheme | A$123.8bn | 2.1% | 2.4% | Similar size |
Questions this page answers
How big is Colonial First State FirstChoice Superannuation Trust?
Colonial First State FirstChoice Superannuation Trust held A$107.6bn in total assets for 611,943 member accounts in the APRA fund-level statistics for the year to 30 June 2025.
What return has Colonial First State FirstChoice Superannuation Trust delivered?
Colonial First State FirstChoice Superannuation Trust reported a 10.6% one-year rate of return, and 5.8% a year over the past ten years, at whole-of-fund level in the APRA fund-level statistics.
What does Colonial First State FirstChoice Superannuation Trust charge in fees?
Colonial First State FirstChoice Superannuation Trust reported an operating expense ratio of 0.1% and an investment expense ratio of 0.0% for its reporting year ended 30 June 2025 — the running cost per dollar of savings (APRA fund-level statistics).
Did Colonial First State FirstChoice Superannuation Trust's products pass the performance test?
57 of Colonial First State FirstChoice Superannuation Trust's products and options were tested against the regulator's annual performance test as at 30 June 2025, and every one passed.
Does Colonial First State FirstChoice Superannuation Trust's insurance pay out?
In its latest reported year Colonial First State FirstChoice Superannuation Trust's default cover collected A$138.1m in premiums and paid A$127.1m in claims, per the APRA fund-level statistics.
See also: Australian super in numbers — marketing spend, expenses, the gender gap and two decades of consolidation across all APRA-regulated funds · all tracked plans.