Eject from Spaceship Super?

[bobbysunny]

@church2u2 I'm with them also and have similar concerns. Thanks for posting this

 

[idontknow07]

@bobbysunny Likewise, 29M with $92k in GrowthX.

Would happily take suggestions from anyone on good alternatives

 

[fivfrujf]

@church2u2 Jaysus those fees are EYE-WATERINGGGGGGGG

 

[luxdei]

@church2u2 Averaged 3% higher PA than other major superfunds over the 85 months since inception. Wouldn’t look at it for people over 55 but anyone under that can handle the volatility for the extra few%.

Fees are high but the better gains still make it worth while.

 

[church2u2]

@luxdei This was my argument I made to myself in 2018 when I moved to it. At the time my super was with REST and was performing terribly. What I find frustrating about Spaceship is that it isn’t listed amongst any of the super comparison tools. For example if I go to the myGov super comparison tool, it isn’t listed for comparison against hostplus etc… but my workings seem to suggest it has performed above market before fees. I haven’t run a post fees comparison.. but that’s what I want it included in the existing comparison tools… perhaps it’s too small a super company to be included ?

 

[dmc0027]

@church2u2 I'm guessing Spaceship own some of the tech stocks that have run up a lot recently, namely Nvidia.

Wouldn't surprise me if the people running the fund were on wallstreetbets. I mean it's all in the name: Spaceship.

 

[luxdei]

@dmc0027 You can find all the companies their portfolios are invested in online. I would hope they are invested in the tech stocks of the future.

But even the larger parts of their portfolio (Microsoft, meta, BHP and Apple) have gone up considerably over the last 7 years

 

[reardensteel]

@luxdei I cannot for the life of me find this list for Spaceship GrowthX - can you provide the link?

 

[fyu121367]

@dmc0027 And their employees work inside the spaceship, they are not called managers or relationship experts, they are literally called Aliens.

 

[luxdei]

@church2u2 I believe it’s not in there because it hasn’t been around long enough for the comparison tools. At minimum it is 7 years and usually 10 years

 

[church2u2]

@luxdei Understood, I guess that makes it hard for new super entrants with differing strategies to prove themselves against older funds right? Is there a tracking tool in the market that shows 5 year return comps?

 

[conandew]

@church2u2 Those comparison tools compare the “default” investment option of each super fund at $50k balance - targeting people who don’t want to / don’t know how to set their investment allocations.

Most major super funds have indexed premix or DIY investment options that are far cheaper than the options used in those comparison tools.

 

[saintcody777]

@church2u2 I don't recall it being on KPMG Super insights dashboard either. Interesting

 

[helenafive]

@church2u2 ATO only compares mysuper so is useless to anyone with enough nous to read a pds.

 

[church2u2]

@luxdei So quick update. I found that the Choice Heatmap on APRA website actually lists Spaceships performance under the entity name “Tidswell master superannuation plan”.

When you select this option and compare against Hostplus and Unisper growth options you get the following 5 year net investment return results (net of fees):

Spaceship growthX: 8.85% p.a
Hostplus share plus accumulation: 8.18% p.a
Unisuper high growth: 8.37%

Pretty surprising result to be honest.

 

[tytyty]

@church2u2 Put it all into pumpkins. I have a feeling they're going to peak right around January.

 

[mrsdrcampbell]

@church2u2 Don’t eject, lift off…

 

[nothingbutaglance]

@church2u2 I would bet that you would have gotten the same gross returns from another fund without having to pay the same level of fees or support a company that's nototorious for making it hard to transfer to another fund.

I have a friend who tried to switch after they realised the level of fees the fund charges, and the amount of hoops they made him jump through is enough for me to never consider them irrespective of their performance.

 

[church2u2]

@nothingbutaglance I’m going to switch and will report back on the experience